I know the inflation trade has been discussed and is possibly over, but CORN has been consolidating with higher lows and lower highs. If the trade is not over we could see a breakout to 780$. This is a hedge trade, corn has a lot of moving parts and the three biggest right now being demand for livestock, ethanol blending, and droughts. If traffic is picking up and...
NB Watch the video I published on corn sell I explained my trade in more details. I will give you an IDEA/EXAMPLE how I am taking this trade lets base this on a $100 account: (A) Open 1x position SELL (B) Stop loss -$5.50 (5.5% loss of $100) (C) Take profit +$25.00(25% profit of $100) Disclaimer I not a financial advisor I am simply a retail trader sharing my...
first take profit and second take profit are both 50%.
Corn Seasonal Trends in Play: Short September corn from 6/13-7/27. This has been profitable for 13 of the last 15 years with the average gain being roughly 33 cents, or $1,650 per one 5,000-bushel contract. Fundamentals: Yesterday's weekly Crop Progress report showed good/excellent conditions at 64%, this is a 3% drop from last week and 1% lower than...
Soybeans Commitments of Traders Update: Friday’s CoT report showed Managed Money were net sellers of 29,914 futures/options contracts through June 28th. Majority of this was long liquidation, 26,432 contracts. This shrinks their net long position to 124,498 futures/options. Fundamentals: Late last week there were rumors circulating that 8 cargoes of soybeans were...
Corn Commitments of Traders Update: Friday’s CoT report showed Managed Money were net sellers of 36,649 futures/options contracts through June 28th. This was all long liquidation, 38,185 contracts, with a tiny bit of short covering. This shrinks their net long position to 228,612 futures/options. Seasonal Trends in Play: Short September corn from 6/13-7/27. This...
Continuous Corn - Weekly: **The big red bar down this week is a bit exaggerated as this chart has rolled to chart against the Sep with a 1.20+ inverse. Nonetheless, corn is still down .50 +/- for the week. The 6.16 low hit the trendline, time will tell if this holds. Should we see a bounce from here the first test will be at 7.05 to 7.20. Primary targeted...
Continuous Corn – Weekly: Up trending vs Down trending Pitchforks – Continued from 6/2/22… Up until two weeks ago it appeared that cash corn was going to follow the green bars up with the up trending pitchfork. The July/Sep inverse was a big challenge and the move lower just killed the chance for the continuous chart to maintain upward momentum. Currently the...
Corn Seasonal Trends in Play: Short September corn from 6/13-7/27. This has been profitable for 13 of the last 15 years with the average gain being roughly 33 cents, or $1,650 per one 5,000-bushel contract. Technicals (September): Yesterday’s USDA report was Neutral, but Neutral wasn’t enough to feed the Bull into the last trading day of the month/quarter, which...
Corn Fundamentals: Corn futures have traded both sides of unchanged in the overnight and early morning session as prices consolidate ahead of end of month, end of quarter, and all-important USDA report. The range of estimates for acres comes in from 88.4-91.0 million. In March the USDA was at 89.5. The average estimate for US corn stocks as of June 1 is 4.345...
Corn Seasonal Trends in Play: Short September corn from 6/13-7/27. This has been profitable for 13 of the last 15 years with the average gain being roughly 33 cents, or $1,650 per one 5,000-bushel contract. Fundamentals: Yesterday’s crop progress showed deteriorating crop conditions (though still better than last year at this time) with good/excellent ratings at...
Continuous Charts: Top – Front month to next deferred month Spread Underneath is Front Month continuous Rule 1: Carry spreads have limits, Inverse spreads have no limits… In the past 25-30 years we have seen 6 very strong inverted markets. Each inverted market lasted between 3-6 months and often times carried a bullish market reaction. When the inverse...
WEAT continues to trend lower, alongside corn and soybean prices. Many of these charts have turned bearish as funds look to trim back some of their historically long positions. Weather will continue to be a key factor going forward, as of now, it looks favorable which may be adding to the pressure. July options expiration is tomorrow, a lot of open interest at...
Corn (July) Technicals: July corn futures are weaker in the overnight/early morning trade. Though it looks ugly on the screen, we have not broken below our significant support pocket, 747-753. As mentioned from the start of the week, July options expiration may be the catalyst to help July corn futures stabilize into the end of the week. December corn….no that’s...
Corn Technicals: In yesterday’s morning report we wrote that the early morning weakness below the 50-day moving average (near 780), stating that it “opens the door for a potential retest of significant support from 747-753”. That support was tested and held to a T through the session and in the overnight/early morning trade. Now it’s up to the Bulls to defend it...
Corn Commitments of Traders Update: Friday’s CoT report showed Managed Money were net buyers of 13,858 futures/options through June 14th. This expands their net long position to 278,185. Broken down that is 329,725 longs VS 51,540 shorts. Technicals: Corn futures were sharply higher on Friday morning, but posted their high within the first minute of the “floor...
Yeah, yeah, it can consolidate. Knee-High by July. Seems output is dropping, significantly. Tortillas? Corn Chips? Fritos? Yeah, all heading higher.
Double top is a reasonable call for around April 24th 2023. Safer target of 826 in January is noted as there is always the possibility of a rapid decline afterwards, presenting the risk of investors selling earlier to avoid further risk. Thrilling times in the world of corn.