Do Or Die For The Dollar Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1159820100 U.S. Dollar:Below long term trendlineThreatening key 95.85 supportWeakness encouraging fund short covering in grains Corn:Holding above 4.30 multiple sessionsResistance near 4.32 to 4.33Wave three structure developingPotential support from export demand including China Kansas City Wheat:Best close of week and yearStrongest…
Grains climb higher again overnight, as the U.S. dollar potentially breaks down on the monthly charts. Grains have created a morning event that has remained a constant: higher starts over the past week. The only question is: can the day-session seller vigilantes stall it out again? Meanwhile, gold adds another $200 in gains on the…
Grains rally as index funds find renewed interest in ownership. Corn, soybeans, and wheat are all seeing gains in overnight trade, boosted by renewed interest from managed money. However, the real momentum is in the metals market, gold has surged nearly $200 an ounce and silver is up over $7, driven by growing concerns over…
How A Breaking Dollar Affects Grains Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1158953541 US Dollar:Weekly and monthly charts show major weaknessPossible breakdown below long term support near 96Weaker dollar supportive for export driven commoditiesFederal Reserve meeting adds uncertainty Wheat:Kansas City wheat holding above 200 day moving averageThree consecutive closes near key resistanceSigns of…
Turnaround Tuesday looks promising for grains if the selling vigilantes can be pushed back on the day session opening. Grains are firmer this morning, in Turnaround-Tuesday style, and soybeans are ignoring yesterday’s outside-day lower close. (I discussed this in yesterday’s newsletter, how the outside-day movements don’t carry the leverage they used to years earlier, as…
Grains are fading after overnight strength, even though the US dollar is breaking below 97.00. Typically, this is a supportive event. This morning, the grain trade is fading from last night’s early strength, as the US dollar tipped lower and metals surged to phenomenal new all-time highs, with gold now well above 5000 and silver…
Cattle On Feed On Feed: 96.8% vs 96.8% estimatePlaced: 94.6% vs 92.6% estimateMarketed: 101.8% vs 101.5% estimate The report is slightly negative relative to pre-report estimates because placements were a bit higher than expected.
Large export sales numbers have the grain trade near weekly highs this morning. This morning’s grain trade is higher across the board, in anticipation of strong export sales numbers being released. Those numbers were solid with corn having a massive rebound of exports after the holidays at 4.01 MMTs, soybeans at 2.115 MMTs, and even…
Chinese Corn Prices Haven’t Broken Yet Presented by Heartland Investor Capital Management Inc. CTA https://vimeo.com/1157344378 Weather and Outlook:Dryness more concerning than cold for wheatNatural gas rally highlights unreliable weather modelsLa Niña fading, neutral possible, El Niño uncertain timingSummer heat and dryness could support corn Corn:Strong support near 420 levelRising lows despite large suppliesChina price premium…
Another night session that grains love to rally in. Will the seller vigilantes prevail again in the day session. Grain futures produced another plus side night session, which again will have to tend to the day session seller vigilantes. Strength came overnight as Pres. Trump and his call for 10% tariffs on Europe starting February…
