GRAINS FADE OFF EARLY OFF HIGHS
AUDIO COMMENTARY
US dollar dumping, 4-month lows
Grains higher overnight but faded
Beans fail at key resistance for the 4th day in a row (chart below)*
If you need to do something in corn soon, eyeing $4.36 to take risk off the table (chart below)*
Where I’d de-risk beans (charts below)*
Some say not a lot of wheat damage done
Not going to kill wheat crop this time of year
Brazilian real vs US dollar
We saw massive exports last week
Have we created that much demand?
Government shutdown odds soar
Options are still cheap if you need cash and have grain in the elevator
Benefits of call options vs paying storage on stuff in the elevator that you no longer control
If you have call options in corn
Listen to today’s audio below
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CORN & SOYBEAN TARGETS
March Corn 🌽
We broke out of that small range we had been in.
Looking to reward a move towards $4.36.
That claws back 61.8% of the USDA sell off.
It’s also our old key support. Now resistance.
March Soybeans 🌱
We have now failed to break this 23.6% retracement up to the Nov highs for 4 days in a row.
Bulls still not out of the woods yet.
That is the level we need to break ($10.70) to spark further upside.
If we can do that, we should get a leg up to the next set of retracements. Which is where we will be looking to de-risk. ($10.89 to $11.05)
Very important level to break above.
Nov Beans 🌱
Failing the 38.2% retracement up to the Nov highs.
If we can break above $10.85 then we should get a leg up towards the golden zone.
Which is where we will be wanting to take risk off the table ($10.93 to $11.02)
Like March beans, important spot to break above.
Past Sell or Protection Signals
Dec 11th: 🐮
Cattle sell signal & hedge alert.
Dec 5th: 🐮
Cattle sell signal & hedge alert.
Nov 17th: 🌱
Soybean sell signal & hedge alert.
Nov 13th: 🌽 🌱
Managing risk in corn & beans ahead of USDA report.
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.
CLICK HERE TO VIEW
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: 🌽 🌾
Old crop KC wheat & old crop corn signal.
Jan 23rd: 🌽 🌱
Corn & beans old crop sell signal.
CLICK HERE TO VIEW
Jan 15th: 🌽 🌱
Corn & beans hedge alert/sell signal.
Jan 2nd: 🐮
Cattle hedge alert at new all-time highs & target.
Dec 11th: 🌽
Corn sell signal at $4.51 200-day MA
CLICK HERE TO VIEW
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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