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
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
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
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
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
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 – February Live Cattle
The information and opinions expressed below are based on my analysis of price behavior and chart activity Thursday, December 5, 2024 February Live Cattle On Thursday, the February Live Cattle closed down 2.000 at 186.325. That the lowest close since November 18th. As you can see on the chart above, the red trendline resistance, drawn off of the March and …
Chart of the Day – January Soybeans
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 …
Chart of the Day – Feeder Cattle
The information and opinions expressed below are based on my analysis of price behavior and chart activity Tuesday, December 3, 2024 January Feeder Cattle After starting the week off with a drop of 2.625 on Monday, January Feeder Cattle rallied back up by 2.450 to close at 259.30 on Tuesday. Setting aside Friday’s holiday-shortened session, this is the highest close …
Chart of the Day – March Corn
The information and opinions expressed below are based on my analysis of price behavior and chart activity Monday, December 2, 2024 March Corn As we start the last month of 2024, March Corn settled the day down ½ cent at 4.32 ½. November saw prices gain by 7 cents, compared to October, but 5 cents of that gain came on …