Good Morning Farmers, Commercials and Traders, (late grain snapshot playing lines on bottom) Part of being a successful trader requires having levels that you confident about, followed by a trading methodology that allows you to shoot bigger with a tighter risk profile. Last month gave a precise example with soybeans where, for instance, if you were a 10 lot trader …
December Corn: Making Sense of It
December Corn A choppy neutral trading activity seen in today’s market activity. For tomorrow a rise above 399.4 will look to advance. First upside target zone comes in at 404-405. A hold/close above will look to challenge last week’s high 414-417. A break below 391 will look to weaken to test cross zone support at …
More Uncertainty: Soybean Complex
September Soybeans A choppy mild advance unfolds in the bean contract today. Prices hold slip zone to post moderate gains with high set at 1008.4 before easing to finish at 1004. Not a lot of structural clues made apparent to me. I’m left to focus on levels rather than wave analysis to gain any insight. Above 1005 sets …
Livestock Report
Live Cattle The August Live Cattle contract remains trapped between the 100 DMA (118.175) and the 200 DMA (114.30). It opened (117.20) just above Monday’s settlement price (116.95) on Tuesday, July 18, 2017 and traded down to the low of the day at 114.775. It spent the remainder of the day consolidating in the lower end of the range (115.45 …
Daily Gold Report
Gold prices hit a two-week high on Tuesday closing well above the 200 day moving average at 1232.7., finishing today’s session up over $8.00 to close at 1241.9. One of the reasons for the rally is the decline in the U.S. Dollar. The greenback is falling due to fading prospects of an imminent increase in U.S. interest rates and expectations …
Head Scratcher : Soybean Complex
September Soybeans Market held Monday’s low as suggested and took out early week’s high. Prices did challenge noted resistance level of 1010 failing at 1008.2 before losing all its gains to settle at 993.6. It’s a structural mess as I see it and I find it difficult to to discern any high probability scenario playing out. The late …
Soybean Complex: Kicking off the Week
September Soybeans Tight 13 cent range established in the bean market today. Market sets low at 985.2 at the .618 retracement and prior iv wave low convergence level. A hold here will look to take out recent first wave’s high at 999. First upside resistance level comes in at +/- 1010. A hold above 1013 sets up advance …
Weekly Gold Report
The Gold market finished the week strong Friday and rebounded nicely from multi- month lows made this past Monday. August gold futures settled at 1227.5 gaining $17.50 for the week. Silver futures rebounded as well posting a .50 cent gain for the week to close at 15.93 an ounce basis September futures. Gold may have found a near term bottom …
Nice Save: Soybean Complex
September Soybeans The beans market slipped slightly to test recently mentioned save level of 974 holding up just above at 975.4 at inner trend line support trow-back. Prices rise above first resistance level at 988 and extend to 995.4 before settling at 992.6. The market will have to hold above 982 to continue its advance. A hold beneath …
Livestock Report
Live Cattle The August Live Cattle opened (118.25) stronger on Thursday, July 13, 2017 and traded to the high of the day at 118.50. This was just above the 100 DMA (118.15) and the pull from the moving average was just too great for the market to remain above it. Price broke down and traded to the early session low …