Main Pattern: Rounding Bottom with 60% target reached Minor pattern: Continuation Bullish H&S, but Failed Short now
quick comparison of ASX:FRM against SPY, XJO & ASX.GNC (graincorp) Grain prices are a major input to egg production.
Where can we feel the impact of high inflation most directly in our daily lives? Food and energy! Livestock is a market that certainly deserves more of our attention. Surging energy prices (especially natural gas) have led to high fertilizer prices, which pushed up grain prices. Eventually, that gets translated into higher prices for livestock which are heavily...
March comes in like a lion and goes out like a lamb, and April showers bring May flowers. In the northern hemisphere, farmers are now planting the crops that will feed the world after the fall harvest season. Mother Nature is typically the primary determinate of agricultural products as the weather conditions determine if there will be enough supplies to feed the...
Corn seems expensive compared to Soybean for 1 year ahead delivery. Maybe the too tight corn SxD due to Ukr war and post USDA Planting Intentions pressuring the spot prices is pricing too much for 2023 crop. While soybean seems behind the curve on a comparative basis. RSI for the ratio spread at 30s
I'm still invested with the rest of my original position long in corn, but I'm ready to scale out completely. But just now, I've noticed that the highs and lows from yesterday and today COULD form a beautiful symmetric triangle. So in this uptrend, this could be a chart pattern that indicates a continuation of the existing trend in corn.
Swing trade long idea with JJG grains breaking out on the weekly with nice volume. PT is the .618 extension or 81 , 20 day MA stop loss
WHEAT made a sharp and impulsive drop from the mentioned resistance levels, at Fib. ratio of 0.382/0.50 and at the level of a former wave iv (795/800 area). We labelled a possibly completed five-wave structure in C at 757 lvl., which means a minimum three-wave rally can now be in the cards, and is already underway. If only a three-wave rally shows up, and then...
WHEAT (MAR 2022) made a textbook example of an impulsive (five legged) wave, down from 831 high, and found a potential low for a higher degree wave A or 1 at the 774 lvl.. Price can now be in a temporary, corrective retracement labelled as an a-b-c flat of a higher degree wave B or 2. Possible resistance is at fib. ratio of 0.382/0.50. In case if price starts...
WHEAT is trading in a five-wave decline for a higher degree wave 1 or A from 831 high. We also see that price broke below the lower corrective parallel channel line, which is a confirmation that a temporary high is in place, and a change in trend underway. At the moment we are tracking a sub-wave v of 1/A, down from 795 lvl., where a corrective sub-wave iv had...
WHEAT (Mar 2022) is trading as expected, turning in impulsive fashion down from 831 high of a former higher degree wave C. We labelled a five-wave move in progress for a higher degree wave 1 or A; sub-wave iv correction can now be underway, with possible resistance at the Fib. ratio of 0.382 or 0.50. Also the upper side of the lower parallel corrective channel...
WHEAT (Mar 2022) found a low for a corrective wave B at the 776 level, near the Fib. ratios of 0.382 and 0.5, which can also react as support, and bounced sharply higher. A sharp rally above the upper parallel channel line, and above the former high at 803 lvl. is an indication that bulls are in control, and that correction is completed. We are now tracking a...
A five-wave rally on wheat (March 2022) from 737 lvl. on the intra-day chart makes a bullish sign, and suggests more upside, once current a-b-c correction fully unfolds. Correction can be a complex one, and can look for support at the 770/761 region, where wave iv and Fib. ratio of 0.618 sit.
The last time we had a perfect storm situation to buy grains, we had a monster rally in both corn and beans. We are now in a similar situation, with the recent surge in Nat Gas affecting fertilizer prices. Weather in Brazil is problematic and China is struggling to produce grains locally...We are once again nearing a situation where reward to risk for buying into...
Long term trend still intact. Trend continuation expected. I've been expecting a breakout from this wedge pattern for a couple weeks. Last week, the breakout did happen, but price returned to close the week back inside the wedge. I still hold that the technical pattern is extremely bullish. Fundamentals for wheat are also bullish with rising fertilizer and energy...
Median Reversion Opportunity: Scaling into this market short on productive weekly/monthly highs Buyback productive weekly/monthly lows Targeting 350 to exit short position Good luck to me! How far north do you think Oats are headed?
Landscape in the agricultural sector could not be much more favourable for Kernel than it is nowadays. Grains Price Index is at its highest level since 2013 and the company has managed to fix most of its sale prices for the 2021/2022 season. According to the U.S. Department of Agriculture, global grain yields in 2021 will be remarkably high mostly thanks to the...
As September began last week, the markets are nervous. Stocks have seen some pretty awful seasonal price action in September and October. Crashes occurred in 1929, 1987, and 2008 in October. Commodities are highly seasonal markets. Some commodities typically reach seasonal highs and lows during various months of the year. Futures prices ordinarily reflect...