Corn and Wheat Here’s a quick acknowledgment that corn plummeted this morning into my wave (4) expectation that hammered right into the 38% retracement of 514 before violently turning higher. The December Chicago wheat trade followed suit and went to substantial resistance at trendline and my updated blue line which reflects important set prior lows….
Soybean Observation For You Observation on Soybeans for you. Over the last year, every 60-days soybeans like to make a mid-month turn. Six of last the seven have been a high. Is it possible we have just seen a high for a while? Especially ahead of next week’s summit? I’ll let you decide. We increased…
Spec trade: Raise stop on long Nov bean to near break-even at 1308.4.
Santa Teresa Update New Mexico officials told DTN that they are preparing the Santa Teresa, New Mexico cattle crossing for reopening. Agriculture Secretary Brooke Rollins and industry representatives are expected to inspect the facility Thursday, and New Mexico’s ag commissioner said September 24 is the target reopening date if everything lines up. Initial flow would…
Spec trade: Buy a November bean at the MKT, 1309.4 last with a 1296 stop. China lifting bean tariffs.
Spec trade: Buy a November bean at the MKT, 1308 last with 1299 stop. We’re aiming for 1320-1325
Hedge Recommendations: Make 5% sale of corn against the March contract at 567 Make a 15% sale of soybeans against the January contract 13.47. Make a 20% sale on wheat at December Kansas 888, December Chicago 823 and December Minneapolis 802. There is no reasonable carry in the wheat to sell.
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