DON’T LOCK YOURSELF IN A CORNER
AUDIO COMMENTARY
Cattle continues to show signs of local high
Still don’t like selling futures on cattle, like puts
Could see gap fill on corn chart
Think yield is coming down quiet a bit
Trump saying China is conspiring against US
Wheat stuck in no mans land, bias still higher
Pretty likely corn made harvest lows
Market feels like crop is getting smaller
It could take until January for USDA to come clean
Patient unless you’re backed into a corner
What will you do if you need money or don’t have room for it?
Making decisions based on your local situation
If you can hold corn hold it with the carry
Markets are paying you to store it
Look at selling the carry
Where is bottom in beans? (chart below audio)*
Corn, beans & wheat chart below audio*
Listen to todays audio below
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SOME CHARTS
Dec Corn 🌽
We rejected right at that trendline resistance that we’ve respected on several occasions.
Makes sense we couldn’t break it in one go.
But once we do, it should spark a little more upside.
Currently eyeing the $4.35 area to de-risk.
That gives back 50% of the Feb highs.
It is also an area of key support from spring.
Since we closed above the red box, I believe our harvest lows are in.
Nov Beans 🌱
Down -30 cents from the recent highs.
We failed to hold the short term golden zone (green box).
This means we very well could be in for a little more downside.
The area I am watching is the blue box.
That gives back 50-61.8% of the entire rally off of $9.80
That is seen as a standard correction level.
If we look at the MACD indicator, it also flipped bearish.
This signals momentum is shifting lower.
Dec Wheat 🌾
I still like wheat here.
Could we post new lows? Sure we definitely could.
But once we take out $5.35 I think it should spark a run up to at least $5.55 before any major resistance.
Which is some old support and gives back 38.2% of the June highs.
Area to de-risk is still $5.66 to $5.78 (50-61.8% of June highs).
Past Sell or Protection Signals
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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