Chart of the Day – March Corn

Jeff FosseGeneral Commentary

The information and opinions expressed below are based on my analysis of price behavior and chart activity Thursday, December 19, 2024 March Corn closed up 3 ½ cents today, at 4.40 ¾.  Overflowing pressure from the rest of the Grain complex pushed prices lower on Tuesday and Wednesday, to my eye, as both Soybeans and Wheat have set new contract …

Chart of the day – February Gold

Jeff FosseGeneral Commentary

The information and opinions expressed below are based on my analysis of price behavior and chart activity Wednesday, December 18, 2024  February Gold As of this writing, February Gold is currently trading at 2609.60, down 52.40 on the day.  Most of the selling pressure came in as soon as the FOMC announced the ¼ rate cut at 1 PM CT.  …

Chart of the Day – March Chicago Wheat

Jeff FosseGeneral Commentary

The information and opinions expressed below are based on my analysis of price behavior and chart activity Tuesday, December 17, 2024 March Wheat March Wheat closed down 5 cents at 5.45, a new contract low close, today.  It did not set a new intraday low however, that was on Dec 4th at 5.40 ¼.  By looking at the chart above, …

Chart of the Day – March Soybeans

Jeff FosseGeneral Commentary

The information and opinions expressed below are based on my analysis of price behavior and chart activity Monday, December 16, 2024 March Soybeans Open Interest has shifted to the March contracts in the Soy complex.  January is still leading, as far as volume goes, but that will change in the coming days.  Today, the March contract dropped 9 cents, to …

Chart of the Day – March Cocoa

Jeff FosseGeneral Commentary

The information and opinions expressed below are based on my analysis of price behavior and chart activity Friday, December 13, 2024 March Cocoa Today, March Cocoa closed up 459 to 11280.  Since the market made it’s last significant low, on Oct 25th, it has rallied an astounding 5349 pts., or 88.91%, from low to high.  This rally has been spurred …

Chart of the Day – Live Cattle

Jeff FosseGeneral Commentary

The information and opinions expressed below are based on my analysis of price behavior and chart activity Tuesday, December 10, 2024 February Live Cattle February Live Cattle settled 2.00 higher today, at 189.025, nearly matching the high close from last week.  Monday’s trade activity posted a “Bullish Engulfment” on the candlestick charts, which is usually supportive, and traders pushed prices …

Chart of the Day – March Corn

Jeff FosseGeneral Commentary

The information and opinions expressed below are based on my analysis of price behavior and chart activity Monday, December 9, 2024 March Corn As we start off this week, March Corn settled up 1 ¾ cents, at 4.41 ¾.  Monday’s settlement was the highest since Friday, November 8th.  Traders are looking forward to tomorrow’s 11 AM CT release of the …

Chart of the Day – March Coffee

Jeff FosseGeneral Commentary

The information and opinions expressed below are based on my analysis of price behavior and chart activity Friday, December 6, 2024 March Coffee Since October of 2023 Coffee prices have more than doubled.  The October 10th, 2023 low for this contract was 150.25.  Today it settled at 330.35, up 16.85 on the day.  We saw prices hit a contract high …

Chart of the Day – January Soybeans

Jeff FosseGeneral Commentary

The information and opinions expressed below are based on my analysis of price behavior and chart activity Wednesday, December 4, 2024 January Soybeans January Soybeans settled the day down 8 cents at 9.83 ¾.  Uncertainty over “Trump Tariffs” and what they may, or may not, do to or for US Ag business has market participants on edge.  The weather in …