Category: Ag Markets Update

FOR MONDAY: (7/30) Our original work suggested a recovery on Sunday but if it happens, it would be a chance to sell, as cycles for most of next week seem lower and we’re probably at a point where selling pressure will increase unless there’s some wildly good news. Use any strength to take more protection. Wheat had issued a sell signal on Friday by printing 528 so it’s in trouble, and only corn is holding up decently.Continue reading

FOR FRIDAY: (7/27) Cycles are bearish for grains on Friday and we think the bears will win but if weather changes over the weekend, they may come back. You often have to be short beans and corn into the last week of July when they trash them so glad we have something on. Cattle look lower 1 more day but may recover early next week if the meltdown isn’t bad.Continue reading

FOR THURSDAY: (7/26) $12 Billion in new farm aid to combat tariffs helped markets on Wednesday, and they’re higher overnight. Usually grains are lower on Thursday but we do have two opposing cycles into Friday. If the market holds up an extra day, Friday should be a climax and reversal. Cycles and patterns seem close but could overshoot on fund zeal but 384 on Dec. corn should be the max. fantasy and 907 on Nov. beans. Wheat is in a whole different world.Continue reading

FOR WEDNESDAY: (7/25) Beans may explode on continued hopes for farm aid and we did have a cycle high due on Wednesday. We still would use the rally to hedge, as the crop is in good shape—especially corn. Hogs failed to recover despite a great Cold Storage report and broke technical support.Continue reading

FOR TUESDAY: (7/24) Crop conditions came in better than expected and beans may continue to come off as will corn. We had Tuesday lower and wonder if the trade will do their late July sell-off. We probably have to get something short if you are not in as we never go to 875 for beans. Wheat may get dragged lower.Continue reading

FOR MONDAY: (7/23) Grains are getting a bit overbought now after being up 5 days and cycles turn weaker into Tuesday, and weather isn’t really friendly but too much rain in some areas isn’t welcome. Cattle on Feed report was neutral but the market was a bit overbought. Open to buying cattle by Tuesday if it holds up well on Monday.Continue reading

FOR FRIDAY: (7/20) Some key numbers hit for corn but more room for upside for wheat and beans. Cattle on Feed report on Friday should lead to a pullback but reaction into Tuesday’s high looks friendly.Continue reading

FOR THURSDAY: (7/19) Cool and dry forecasts into the end of the month may continue to put a floor on this market. We almost never get rallies during this part of the 29/30-day forecast so it will be hard to press longs after short-covering the last few days. Thursdays tend to be lower in Chicago so we’ll give it a chance to pull back and not chase.Continue reading

FOR MONDAY: (7/16) Only wheat held up on Friday, and beans and corn didn’t go high enough to let us in. Rains in the forecast suggest that these markets could be down hard so you may need to protect yourself early Sunday as 817-21 or 800 may quickly be in for Nov. beans and 340 for Dec. corn. Not sure what to do with erratic trading on meats and will leave them alone over the troubled weekend when China is like to suggest new retaliation measures.Continue reading

FOR FRIDAY: (7/13) Grains’ bounce was healthy but not thinking that it will last very long and it should be easy to get pattern completions to 338 on Dec. corn and 817-20 on Nov. beans if we are patient. Use rallies to hedge.Continue reading