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Grain Markets Shrug Off Last Weeks Weakness
Corn and wheat futures were sharply lower on Friday but have been able to find their footing now that we have turned the calendar over and started a new week, month, and quarter. ***TRANSCRIPT*** Oliver we saw Friday kind of leave us on a sour note and this morning come back in a little firmer […]
Livestock Markets Ended Q3 with a Choppy Trade
Last week was choppy for the livestock markets. Will a new month and a new quarter give the markets more clarity? Live Cattle Technicals (December – Z) December live cattle were on a rollercoaster ride last week, much of which was likely in part due to end of quarter positioning. Friday’s Commitment of Traders report […]
Grain Markets Turn the Page
Today is the start of a new month and a new quarter, will that help grain outlooks turn more positive? Corn News Technicals (December) Though December corn futures were under “heavy pressure” on Friday, it left prices pretty close to unchanged for the week and the month and did little to change the technical landscape. […]
Weekly Grain & Livestock Market Recap
Friday’s “Triple-Witching” event was not friendly to the grain markets. Today’s “Triple-Witching” event was not friendly to the grain markets. The end of the month, and the end of a fiscal quarter, can add a little extra flare, and when you throw in a mildly bearish USDA report, the result can look a lot like […]
All Eyes on Today’s Quarterly Stocks Report
Grain markets are quiet in the early morning trade as traders await this morning’s quarterly stocks report from the USDA Corn News Technicals (December) Corn futures made their way back to our 3-star resistance pocket which has neutralized our near-term bias ahead of today’s USDA report. If you had bought near the pivot pocket earlier […]
November Feeder Cattle Futures finds support – Will it last?
After being subjected to selling pressure for the majority of the week, the November feeder cattle contract found support at the 23.6% retracement level between the contract’s low, and the contract’s high. The low for the day was only a few ticks off of the actual 253.825 level, coming in at 254.050. There’s no question […]
End of Quarter Positioning Sends Market Volatility Higher
Volatility has picked up across many commodity markets as traders look to manage positions into the end of the quarter. Corn futures continued to grind higher in today’s trade. At the close the December contract was 5 ¼ cents higher to settle at 488 ¼, the highest closing price since August 28th. As mentioned in […]
Soybeans Retreat Ahead of Tomorrow’s USDA Report
Soybean futures are weaker in the early morning trade following yesterday’s failure against technical resistance as traders look to tie up loose ends ahead of tomorrow’s USDA report. Corn News Technicals (December) Tired of reading about a rangebound corn market? It’s getting a little old writing about it too. Technical levels remain intact. There continues […]
Is Corn Ready To Pop?
Last week, we were looking for a potential bottom in corn. Since then, we’ve mostly traded sideways to slightly higher. However, the end of this week brings a “triple-witching” event – the end of the month, the end of the fiscal quarter, and the quarterly grain stocks report all occur on Friday. In last quarter’s […]
Can the Soybean Rally Continue?
Soybeans continued to march higher in the overnight and early morning trade, how much more upside is left? Corn News Technicals (December) Corn futures had a “surge” higher around 2am, trading up to 485 1/2, the highest price since September 12th. Our resistance pocket from 489-491 remains intact as the first upside target for the […]
A Mixed Bag in Grains & a Sea of Red in Livestock
Grain markets were mixed in today’s trade as traders anxiously await Friday’s quarterly stocks report. Livestock markets on the under hand were under heavy pressure as long liquidation pressured prices. Grains There was a little something for everyone in today’s grain trade. Corn At the close December corn futures were 1 ½ cents lower to […]
Soybean Futures Defend MAJOR Support. Is it Time to Buy?
Soybeans test and defend major 4-star support in yesterday’s trade, taking prices back to our pivot pocket from 1300-1304. These are the next upside targets to keep an eye on Corn News Technicals (December) It’s a new day, but the same story for the corn market as prices remain rangebound. As we’ve been saying for […]
Grain Markets Continue to Consolidate Ahead of USDA Report
Corn, soybeans, and wheat futures are in a sideways trade to start the last trading week of the month and quarter. Will Friday’s Quarterly Stocks report be a catalyst to get these markets moving north again? Grain markets were under pressure in the early morning trade but managed to find their footing into the afternoon […]
A Quiet Start to a BIG Week
A quiet start to the week as grain traders gear up for end of month, end of quarter, and a USDA report. Corn News Technicals (December) As we’ve been saying for the better part of the last month +, this is a trading environment full of shorter-term opportunities for market participants on both sides of […]
Weekly Grain Market Recap
Disappointing export sales and external macroeconomic pressures following Wednesday’s Fed meeting were a boon to grain markets this week. The silver-lining in this week’s price action comes from December corn. It was the only component of the grain complex to close in positive territory on the week, and held trendline support for three consecutive sessions.. […]
Grain Markets Attempt to Stabilize
Outside markets stabilize which offers support to grain futures in the early morning trade as we head into the last trading day of the week. Corn News Technicals (December) As we’ve been saying for the better part of the last month +, this is a trading environment full of shorter-term opportunities for market participants on […]
A Risk-Off Day in Ag Markets
Outside markets came under heavy pressure following yesterday’s Federal Reserve meeting and Ag markets followed suit. What levels should traders be watching? Grain Market Recap: Underwhelming export sales and external macroeconomic pressures stemming from yesterday’s FOMC meeting made for a tough day in the grain markets. Corn, soybeans, and wheat all closed today’s session sharply […]
Pressure From Outside Markets Spill Into Grains
Weakness from the outside markets spill into grains following yesterday afternoon’s Federal Reserve meeting where rates were left unchanged, but Fed Chair Powell left more rate hikes on the table for futures meetings. Corn News Technicals (December) Corn futures were able to stage an impressive rally yesterday which was spurred by Tuesday’s reversal higher. If […]
2-Minute Drill ⏱️ & Ag Market Recap
Grain Market Recap Grain bulls can breathe a little easier this afternoon after each of the major grain contracts closed today’s trading session in positive territory. After scoring a new contract low in yesterday’s session, December corn led the way higher, settling 6 cents higher on the day to settle at 482. The question now […]
Are the Grain Markets About to Rally?
Grain markets traded sharply lower yesterday morning but managed to find their footing to finish steady to firm on the day. That recovery has spilled into some overnight and early morning strength. Is the low in? Corn News Technicals (December) December corn futures broke lower yesterday morning but were able to stage a *impressive* reversal […]
Grain and Livestock Market Recap
Grains December corn futures made new lows early this morning, trading to its lowest level since September of 2021 as funds continue to grow their net short position to the largest since August of 2020, about 135k contracts. Despite the weakness early on, futures were able to snap a 3-day losing streak with the December […]
Is There Any Hope For Grain Bulls?
Grain futures continue to slide lower as harvest looks to hit stride this week in some states. What are the support levels that the Bulls need to defend? Corn News Technicals (December) Corn futures broke below support at 472 which has taken prices to their lowest levels since September of 2021. This 472-476 pocket will […]
Daily Grain and Livestock Market Recap
It was a sea of red in the ag markets with grains and livestock both finishing the day under heavy pressure. December corn futures broke to their lowest levels since September of 2021, settling the day 4 ¾ cents lower to 471 ½. Despite the new lows for the move, the RSI (relative strength index) […]