MONDAY’S PRICE ACTION WILL BE IMPORTANT
AUDIO COMMENTARY
Soybeans & wheat rally off the lows
Corn stuck in a sideways range
Cattle posts new highs for the move
Potential reversal in soybeans? (chart below)*
Monday’s price action will be key in beans
How you could play soybeans from the long side with a defined downside risk
Funds positions up to date. Still long soybeans but neutral in the corn market
Bridge payments were announced (numbers below)*
Demand should help keep a floor under corn, but supply could limit our upside potential
Soybeans need to bounce here to prevent more downside risk
The wheat story isn’t bullish, but staying patient
Listen to today’s audio below
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SOYBEAN CHART
We are just below the 61.8% retracement down to contract lows.
We are also right at that trendline support from contract lows.
Both of those are seen as key support levels, which we broke.
We need to bounce pretty much right now.
If we do so, this could be viewed as a bear trap. Which happens when prices break a key level, but snap back above it fast.
Traps are more common when volume is low.
If we fail to bounce here and take out todays lows, it could open the door towards $10.20.
Monday’s action will be very important.
(Scroll to view the potential reversal pattern)*
We closed well off the lows today, leaving a possible reversal candle.
However, this needs follow through.
If we close with a green candle on Monday, this would look like a dragon fly reversal.
How you typically play this reversal pattern:
Go long on confirmation of a green candle after the reversal candle.
Use the reversal candles lows as a stop loss.
So if we close green on Monday, it would look pretty optimistic.
We are still showing some possible bullish divergence on the RSI.
Prices made new lows.
The RSI did not.
BRIDGE PAYMENT RATES
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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