Are Cattle In Trouble? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1040910880/f9e20d9eeb?share=copy Corn: Corn held its wave four correction, showing potential for wave three of wave five up. Resistance at 446.75; breakout targets 460-465 for potential sales. Basis weakness might recover post-New Year; highs likely in April-May. Soybeans: Soybeans bounced after testing critical trendline…
This morning’s grain trade is mixed. Soybeans bounced from yesterday’s significant losses, while wheat slipped to new contract lows in Chicago. This morning’s grain trade has wheat futures leading the weakness as they digested the US dollar’s new strength to near 108.00, with the March Chicago wheat contract at a new contract low. The continuation…
Soybean values break to new contract lows. A widely mixed trade with wheat higher, while soybeans tumble as the Continuing Resolution Bill before Congress offers nothing for soybean oil but has E15 year-round for ethanol in it. The bill before the U.S. House includes $31 Bil of aid for farmers being labeled as disaster aid…
Can Corn Still Rally? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1040164435/206379a587?share=copy Corn:Turned higher after Friday’s low but must hold 440 support; failure risks a larger pullback to 432-436 before resuming an upward trend.USDA’s lower carryout estimate supports corn’s upward bias, with acreage competition expected to sustain prices. Soybeans: Broke lower, targeting 945-950 if…
The grain trade showed a strong recovery overnight in wheat. The markets are showing signs of strength overnight, with wheat leading the way on Putin’s comments and some questions over Russia’s ability to facilitate exports as we move ahead. In the Eastern part of Ukraine, Russian forces have been making significant advances on the ground…
The French milling wheat continues climbing. The markets are mixed this morning, with wheat and corn trading slightly higher, while beans are trading lower. March is at a new fall low after trying to trade higher overnight. Today marks the start of the last meeting of the Federal Reserve this year, with a rate decision…
Corn absorbs farmer selling after big early week gains. This morning’s grain trade is mixed, with wheat firming and corn steady while soybeans soften. After a strong lift this past week on the corn futures, while the basis had been strong, it would not be uncommon to see strong farmer selling develop in the market….
Did Corn Top? Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1038708440/68d0adb120?share=copy Grain Markets: Corn exports near 1M metric tons weekly; soybeans over 1M with new sales announced.Wheat shows signs of potential rally; short covering may boost prices. Livestock Markets: Cattle push toward 193-196 range; feeder cattle eye 270 with strong holiday momentum.Seasonal patterns favor…
