Corn: Price was severely hit during Tuesday's session which teaches us again why stops are so important. We were enjoying a nice ride up that started during first half of May and price is now traded down back to exact that level. This is why one should never forget to gradually take profits from the table and to maintain disciplined stops on basis of both...
Corn: Price made a very strong move to the upside last Friday and posted a new high for the contract. If a price posts a new high it is usually a sign that it wants to trade even higher (and the other way around) although there is no guarantee for that. More significant is that price closed at/near the HOD (high of day) which is a bode for a higher opening for the...
Corn: Nothing much new on the chart that would make us change our views. The weekly chart (not displayed) is showing a very long topping tail that could indicate the bulls are running out of air but we would need to see a confirmation of that after the next weekly candle only. Price almost reached our 2nd target at 450 during Friday's session and we have trailed...
Corn: Price traded further up and reached our first target which is not a reason for us to square the position but rather to trail our intra-day stop up to a level where we optimize the profitability of the position just in case that the picture radically reverses. We would like to see a bit more impulse of the move up during the coming week in which case we will...
*EDIT in text quote on left of chart - *Synchronicity in between I have created an equally weighted portfolio of 5 sustenance based commodities including Soybean, Soybean Oil, Sugar, Wheat, and Maize (continuous fwd contracts). This is an update to the first chart I have published (rough rice) which isn't updating for some reason but if you see the RR1! graph on...
Corn: No changes for our outlook on corn. The price develops as per our preferred path and is heading for our targets. We have inserted a possible alternative routing for price but the bottom line remains the same: 450 during this summer and we do not exclude an additional swing up from there.
Price did make the pull back down to its supportive level after all and bounced from same support during Thursday's session after which a follow-through materialized during Friday's session. Nothing much changes in our bias on the development of this price and we keep our outlook unchanged to the upside. However, we are not yet completely out of the woods and on...
RunningAlpha dot com Capital Markets Intelligence High Priority Update for Monday, May 2nd, 2016 Although $39 and $36.50 remains baseline intermediate to long-term support for Light Crude Oil ( in reference to June Contract Pricing ), the recent advance upwards has opened the door for a further short covering rally upwards to $62 to $65, and perhaps $74 to $76...
Corn: Price made a 13% swing up during April and corrected down rather impulsively during the 2 sessions of Apr 21 & 22 in order to correct its overbought status. On very short term the key level is 382.50 which is the low of last Thursday Apr 28. If this level breaks during the first half of the week we anticipate a bit further decline of price that could go as...
Corn possibilities under a resistence
The soybean/corn spread presents a great opportunity to short into historical lows.
There is a possibly short play opportunity developing on the Corn MAY16 contract that, if valid, should materialize some time between March 15 and 18. Price has been trading within an ascending channel that started March 3 and price is currently at the higher boundaries of same channel. There is a longer term and rather wide descending price channel that started...