The recent information that could make corn prices increase in the near future include:
The war in Ukraine: The war in Ukraine has disrupted global grain exports, including corn. Ukraine is a major exporter of corn, and the war has prevented it from exporting its grain. This has led to a shortage of corn on the global market, which has pushed up prices.
The...
In this idea, I am trying to read and forecast the behavior of the chart in the next 4.5 months . I do not follow corn production, harvest, demand, etc.
Since April 2022 (its 9-year highs) has lost about 40% . Its relatively long-going bearish trend means that most of the drop likely has happened.
Let's quickly study previous drops that lasted more than a year...
Fundamental News
Lack of demand has been a widely reported story which has acted as a major headwind for prices over the last month. This morning’s weekly export sales report showed net sales of 233,500 MT (9,192,486 bushels) for 2022/2023 were up 55 percent from the previous week and 16 percent from the prior 4-week average. Net sales of 704,700 MT (27,742,805...
Chicago Board of Trade corn futures closed weaker on Tuesday and hit their lowest level since December 2020 on improving US crop conditions.
Expecting that the price is going to make lower low in upcoming time and this trade is a low risk trade with good Risk to Reward Ratio.
This Fib layout consists of the most important agricultural commodities. Beef, Pork, Soybean, Corn, Wheat, Rice, and Orange Juice Futures.
-Orange Juice is sold as a frozen concentrate which makes it a commodity.
Each Schematic is worked through by Large Institutions on behalf of the Fed.
Market Manipulation through inflation and destroying meat processing...
Yield reports from August USDA’s reports dropped the fresh crop corn yield by 2.4 bushels/acre to 175.1. Since there were no new acreages it also set the potential output to 15.111 B bushels.
Worldwide the old crop puts the Brazilian output at 135 MMT increase of +2 MMT. Brazil's CONAB raised their corn production forecast by 2.2 to 130 MMT on better 2nd crop...
Analysis: Price extends decline due to the release of the August USDA report towards the recent low, which was also formed due to the release of the July USDA report. Price can be seen as extended and with price now at support region, it is likely that price will begin experiencing retracement soon.
Long opportunity: Long at market reopening as High Risk trade...
Corn has continued to sell off over the last few days and is now approaching our blue buy zone from USX 496 to USX 470. The downward movement in the form of the blue wave (b) should end there. Subsequently, we expect the blue wave (c) to rise to around USX 600, making it worthwhile for prospective buyers to place long orders in our blue buy zone. Our alternative...
It's Corn!
Overview
This is my bread and butter, for the last 10 years I have played this trade. I come from an agriculture and energy background and will break down why this always happens in July as I feel this information is extremely relevant and can be applied to other agriculture based commodities (****note: just because it provides an explanation for corn...
Corn experienced a sharp decline supported by the recent higher than expected stock report. However, price is overextended and is supported by the recent low support level.
Long opportunity: Long at market reopening as High Risk trade towards 505.25 as Take Profit - 1 level.
As above.
Multidecade trend channel in progress with clear resistance/sell zones and support/demand zones.
Multiyear bearish RSI divergence on the 1M chart and decreasing volume suggests continued fall in corn futures price action over the next few years.
Will follow.
Asset Long according to CFTC futures reports
In the zone of the Buyer of stock options
Global Imbalance Level M15
M5 imbalance
input: 5302 (on imbalance retest)
stop: 5252
tp-1: 5352
tp-2: 5450
