December 21 Corn - Daily: Corn had all the potential to fail on Friday as the world Financial and Energy markets caved on the latest news on a new Covid Variant. After gapping lower and trading most of the day lower, buyers came in late and gave the Dec21 contract its highest daily close since July…. that seems bullish. Volume was decent/strong for a...
Bearish clues:
- General downtrend since August 2021
- Ascending wedge , breakdown with a bearish engulfing candlestick pattern
- Bearish Divergence on the Relative Strength Index (RSI) + below the neutrality zone (RSI < 50)
- Pullback done on a resistance zone around $5.40/bushel
- Breakdown of the 150 Exponential Moving Average
Fundamental...
December 21 Corn - Weekly: A very wide range of price action that has so far respected the downtrend line since the early May high. There is an abundance of volume by price in the 5.40-5.60 range. The 5.27 low will be key support on a daily close. Support below at 5.20 and 4.98. Further Risk at 4.77- 4.66 and 4.47.
Bulls would like to see a weekly close...
December 21 Corn - Weekly: A very wide range of price action that has so far respected the downtrend line since the early May high. There is an abundance of volume by price in the 5.40-5.60 range. The weekly chart shows the red Kijun line (5.44) and blue Tenkan line pinching together. Weekly closes below 5.44 is a concern for the bulls. A Weekly close above...
Near complete triangle in Dec Corn with measured blue line resistance at $574 and wave E. Waves B & D are key triggers with confirmation for the pattern. Black line $497'2 forms symmetry and is a level to watch on a pattern break.
Dec21 Corn-Daily: So far price action has respected both the red downtrending fork and the gray uptrending fork. It appears that if we continue with strength today that the bounce off each red and gray line match up with a bull flag and could follow through to fill the 5.99 target. That downtrend line will be tough resistance, but if broken I will line up...
December 21 Corn - Daily: The red down trending pitchfork is offering resistance against the 50% retracement at 5.59. I am not certain about the placement of the pivots for the gray uptrending fork, but the angles of ascent look appropriate based off the 3 previous moves up. A move above the 5.60 area will next target 5.71, 5.88, and 5.99. I believe these...
Possibly put the highs in for Dec Corn here...as shown in chart, we faded the gains from the bullish July USDA crop report (which showed lower acreage) on better weather forecasts after wknd of the 4th...weather maps less threatening in corn belt as of late and is bearish feature for the next few weeks should forecasts confirm. Condition ratings expected to...
December 21 Corn - Daily: (red) Downtrend pitchfork’s median line is working with the (grey dashed) uptrend line to attract prices lower toward support identified at 5.15 to 5.25. Further risk 4.90 to 4.71
Key resistance targets above at 6.08 and 6.22. A breakout above could target any of the upper retracements in search of the primary target at 7.23
This is a good spread to trade. If you’ve not traded Corn before, just read on, because this style of spread trading is interesting. It has both technical and fundamental aspects and is built on a history of good stats.
Corn has an annual crop cycle. It’s planted in April/May, subject to weather issues in the following months, then harvested for first delivery on...
An interesting spread here. I’ve traded this one on and off over the years. It’s a long-term hold and some years this spread just has a nice smooth trend.
Think of this spread as a cost of carry, in a way. Or perhaps: wholesale versus retail is a better way to look at it.
Feeder Cattle (young moo cows) + Corn (food) + time equals Live Cattle (grown up...
The best cure for a high corn price is a high corn price because producers will plant more corn next season to take advantage of the current high price and inadvertently drive up the supply which will in turn drive down the future price. Assuming supply through March is scarce and by December it will be relatively plentiful, it makes sense to go long the March...
CBOT 
