WHAT HAPPENED TODAY?
AUDIO COMMENTARY
Everything hammered today
Buy the rumor sell the fact on China buying wheat
China wheat purchases doesn’t change the wheat situation at all
If you have DP or basis contracts or time on your hands in the wheat market
No stike in Argy pressures meal
FC Stone says we have huge crops
Sounds like we might have a USDA report
Does the trade deal materially change the balance sheets?
How does this trade deal affect everything?
A lot of unknowns if we get a USDA
Know when to be proactive vs patient
There is tremendous downside but there is more upside than downside in the corn market
Corn still at resistance (chart below)*
Cattle nearing downside target (chart below)*
Chart breakdowns below*
Listen to today’s audio below
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For Lauren’s Charts & Technical Analysis:
CHARTS
Dec Corn 🌽
Still having a hard time breaking resistance and our target.
If we break above green box, it should spark the next leg higher.
It also lines up with the 200-day MA.
So that is going to be your green light this market is ready to head higher.
On the other hand, if we get a correction we need to hold the red box. As that would be a standard correction. 50-61.8% of the recent rally.
Jan Beans 🌱
Next target is still $11.55
The area to hold is the orange box.
Since this rally was so big, that orange box is the size of a standard correction. As it gives back 50-61.8% of this rally.
We don’t have to go there. I am just saying we could fall all the way down there and the bullish structure of the chart wouldn’t change.
Dec Wheat 🌾
Rejecting right at the 50% retracement to the June highs.
We are now right at some previous resistance which could offer support (red box).
If we break below, we will likely go and test the orange box.
That is the spot we want to hold. As the orange box would be a standard correction.
Dec KC Wheat 🌾
Exact same set up as Chicago, however we did not quiet hit that target box.
Right at some prior resistance which could turn into support.
Must hold level is the orange box.
Live Cattle 🐮
We are nearing my downside target and point of interest.
We nearly tapped that 200% retracement we talked about on Tuesday.
This level lines up almost exactly with the 200-day MA on the continuous chart.
(Scroll for continuous chart)
Getting close to that 200-day MA.
Feeder Cattle 🐮
Very similar to live cattle.
As we are also approaching our downside objective.
The 200% retracement as well as the 200-day MA on the continuous chart.
(Scroll for continous chart)
Also getting very close to the 200-day MA.
Past Sell & Protection Signals
We recently incorporated these. Here are our past signals.
Oct 28th: 🌽
Corn sell signal & hedge alert.
Oct 27th: 🌱
Soybean sell signal & hedge alert.
Oct 13th: 🐮
Cattle sell signal & hedge alert.
Aug 22nd: 🌱
Soybean sell signal & hedge alert.
July 31st: 🐮
Cattle sell signal & hedge alert.
July 10th: 🐮
Cattle sell signal & hedge alert.
June 5th: 🐮
Cattle sell signal & hedge alert.
June 2nd: 🌾
MPLS wheat sell signal.
April 10th: 🌽
Old crop corn sell signal.
March 19th: 🐮
Cattle hedge & sell signal.
Feb 18th: 🌽 🌾
KC wheat & corn signal.
Jan 23rd: 🌽 🌱
Corn & beans sell signal.
Jan 15th: 🌽 🌱
Corn & beans hedge alert/sell signal.
Jan 2nd: 🐮
Cattle hedge alert at new all-time highs & target.
CLICK HERE TO VIEW
Dec 11: 🌽
Corn sell signal at $4.51 200-day MA
Oct 2nd: 🌾
Wheat sell signal at $6.12 target
Sep 30th: 🌽
Corn protection signal at $4.23-26
Sep 27th: 🌱
Soybean sell & protection signal at $10.65
Sep 13th: 🌾
Wheat sell signal at $5.98
May 22nd: 🌾
Wheat sell signal when wheat traded +$7.00
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