Corn future is looking almost perfectly ripe for the picking.
Cup and Handle forming nicely and just waiting for the breakout.
RSI broke out of its downtrend bearish divergence and has bounced on the new support - showing more upside to come.
Then will be an easy long (buy) to hold.
Stop loss will be just under the Handle and the take profit will be 2X...
Because virtually the whole world is suffering from massive drought this summer, many crops are in bad shape. This is true with the U.S. cotton crop and it's also true with the U.S. corn crop, which according to USDA reports, barely half of is in good or excellent condition as of last week.
This is significant because the U.S. is the largest global producer...
Fundamental Spotlight
Flash Sale Alert
Private exporters reported sales of 167,000 metric tons of soybeans for delivery to China during the 2022/2023 marketing year.
(More) Lower Yield Estimates
Commodity Consultant, Dr. Michael Cordonnier released his yield estimate for the U.S. corn crop. He dropped his estimate 3 bushels per acre, to 170 bpa. As mentioned,...
Hello to all investors, according to my previous studies and according to my experience as a trader, I see a good investment opportunity with a high probability of success, the details are reflected in the graph
Hello to all investors, according to my previous studies and according to my experience as a trader, I see a good investment opportunity with a high probability of success, the details are reflected in the graph
This week has brought about news on the projected corn yields dropping marginally, which in turn, is pushing this beast into higher territory. As we check out the chart we can see we have a significant golden pocket that will act as the Berlin Wall for corn. Prices below the golden pocket will act as East Berlin, controlled by the soviets during the Cold War....
Fundamental Snapshot
China
Weaker than expected growth in China was reported overnight, with real estate leading the way to the downside. The weaker than expected data prompted their Central Bank to announce a surprise interest rate cut. We are seeing the slower growth data have ripple effects in commodities this morning with oil down over 5% and soybeans down...
Fundamental Snapshot
WASDE Estimates
Reuters has complied estimates for Friday’s WASDE report. The average analyst estimate for corn yield is 175.9, with production at 14.392. The average estimate for soybean yield is 51.1, with production at 4.481. Over the years, the August report has been known to offer big surprises to the market.
Weekly Export Sales
Corn:...
A small update on the corn futures possible breakout of a channel. We have even more confirmation of a channel now, with a total of 6 obvious points, 3 on each side of channel. The breakout of the channel should result in a big movement, I personally believe, it will be a shortside trade, however, we must wait for confirmation before making any major decisions.
This is my plan for corn. It is being orientated mainly on seasonality. That means:
I expect the price to drop a bit further or to go sideways during this summer.
According to seasonality, the low should occur around September.
Then the corn price should rise again according to typical seasonal patterns.
IF the FED keeps increasing the interest rates, the...
Possible breakout either side of the corn futures channel that I have created. As you can see there have been multiple touches on the channel on the upside and downside. Once the stock decides to breakout of the channel, there is possibility for either a long or short position of the stock. The target should be the a movement of half of the size of the channel...
Fundamental Snapshot
Crop Progress
Yesterday’s weekly crop progress report showed further declining crop conditions. Good/Excellent conditions for soybeans were down 1%, to 59%, which was in line with expectations. However, corn G/E ratings fell 3%, to 58%, 2% lower than expectations.
Private Estimates
DTN released their yield estimates for corn and soybeans...
It appears that corn is developing a running triangle for intermediate wave 4. Corn should eventually break out to the downside and reach the target of 521'0, the 0.618 Fibonacci level.
Fundamental Snapshot
Weekly Export Sales
Corn: Net sales of 57,900 MT for 2021/2022 were down 62 percent from the previous week, but up 31 percent from the prior 4-week average. Net sales of 256,700 MT were reported for 2022/2023.
Soybeans: Net sales reductions of 11,000 MT for 2021/2022 were down 81 percent from the previous week and 90 percent from the prior...
ZC / CORN FUTURES
About FUNDAMENTAL ANALYSIS.
---We are now in the corn-demand zone and there are many factors supporting the buying.
1-The Ukrainian war.
2- - dehydration.
3-The rise in the price of oil will lead to a rise in the price of transportation.
About TECHNICAL ANALYSIS
--- we look at (" Sell VOLUME ") and ("Sell pressure") is in decreasing ,...
