It is official. Inflation is back. But not everywhere. Food inflation is on the decline. All three major crops, Soybean, Wheat, and Corn have declined substantially. Bearish sentiments rings loud across agri with ample supplies combined with solid harvest expectations.
Among crops, corn has fared best. Its prices have not declined as much. Corn outlook is...
In this video I go over one of my favorite markets the Wheat market and its current conditions and it's developing stories from dryness in the Kansas City Area a major producer of HRW wheat to war torn Ukraine and potential disruptions there. And with a market that is very heavily shorted by large managed money speculators this leaves a market very vulnerable to...
-Malaysian palm oil futures fell on Monday to their lowest closing in over two weeks, weighed down by lacklustre global demand and weaker crude as traders shrugged off data indicating tightening inventories.
-Market got some support from the resumption of Chinese palm oil buying on Friday but other destinations were lacking charm.
This is more to swing
Wait for reaction at 50% level. If price close above 4040 probably trend will change and can look forward to long after breakout reversal.
If breakout do occur, expect price go to HnS/QM Level based on Fibonacci Level.
FCPO looks heavy. The drop might not ended yet but there might be a retracement higher. At this current level standing aside might be a good idea. Monday price action might be a good indicator on where price will go this week. Stand aside for now until new signal emerges.
Wheat 2 years after topping out at the PCZ of a Bearish Shark that initiated a downtrend in 2022, has now come back to the top side of the range wheat traded in between the years of 2016 and 2020 before ultimately confirming the bottom at the PCZ of a Bullish Deep Gartley in 2019 and breaking free to the upside of the trading range in late 2020.
Now that wheat...
Wheat
Technicals (May)
Wheat futures shot higher overnight but got stonewalled by what was previously trendline support (now resistance). A failure to close out above 550-555 keeps the Bear camp in control with a potential retest of the lows still in play. Further escalation in the Middle East could turn the tide back to Bullish.
Bias: Neutral/Bearish...
A further retracement lower is still in play. A reversal on Friday may turn out to be only a manipulation. The move higher might only be to fill up the gap at 4300 area before continuing lower. 4200 is the area where price should be next week. Expecting a consolidation in this area before the next move higher. Overall still bullish until proven otherwise.
As April unfolds, investors and traders in the corn futures market find themselves at a critical juncture marked by seasonal trends and heightened volatility. Historically, April has been a period of growth in corn prices, driven by various factors including planting intentions, weather conditions, and demand patterns. However, the current landscape presents a...
Chicago Board of Trade (CBOT) wheat futures declined for a second straight session on Tuesday after the U.S. Department of Agriculture (USDA) rated the winter crop at its highest early spring level in five years.
-The market was also pressured by crop-boosting rains forecast for the southern U.S. Plains wheat belt and by limited U.S. export demand due to cheaper...
Chicago Board of Trade (CBOT) wheat futures rebounded on Wednesday after two sessions of losses as technical buying and short covering lifted the market.
CBOT May soft red winter wheat ended 10-3/4 cents higher at $5.56 a bushel. The benchmark contract fell to a one-week low early in the session but found technical chart support at its 20-day moving...
In today's video I just go over some of my general thoughts about the corn market and some of its current technical and fundamental factors that I believe are driving the market. Hope you enjoy and stay tuned for more! :)
CBOT:ZC1! CBOT_MINI:XC1! AMEX:CORN
Wheat is once again showing its bullish side and is taking the first upward step out of the sideways movement of recent weeks. In the further course, the price should now continue the blue wave (c) and complete the superordinate wave A in turquoise. Following this, we expect a sell-off. Within the framework of our alternative scenario, however, it remains 37%...
We've shifted our focus to the July futures contracts as the volume starts to increase there and decrease in May futures. May options expiration is this Friday, which means first notice day is next week. If you're in May futures, you may consider exiting or rolling those positions.
Corn
Technicals (July)
July corn futures have traded on both sides of...
Soybeans
Technicals (May)
May soybean futures broke lower but found support at our 4-star support pocket which we've outlined in recent reports as 1128 1/2-1133 1/2. The Bulls need to see this pocket defended, a failure to do so could accelerate the selling pressure. Below this support pocket and prices are back in uncharted territory, the next support level...
Corn
Technicals (May)
May corn futures tested the low end of the range in yesterday's trade and have so far been able to defend it, with prices working back higher in the overnight and early morning trade. We still like the risk reward trade to the buy side from the low end of the range. A break and close support would neutralize that bias as it could put the...
