Looking at 60-minute chart for corn. Close under $5.25 area seems like it would tip the market over. Ultimately bullish fundamentals in place but hard to fan the flames everyday.
The corn market is adjusting to a tighter supply scenario. Maybe the euphoria sparked by the Crop Tour dies down but the grain markets have turned into a "buy the dip" situation, rather than a "sell every rally".
We're hearing plenty about (disappointing) crops this week. What about the markets? The Crop Tour is making the grain markets move. I made a video about all the price action....
youtube.com/watch?v=zZ6GvGqO…
Corn, beans, wheat all teetering. Hard to rally in the summer with above normal precip in the forecast. I like beans the best for long term upside with a super El Nino likely to threaten Brazilian production. I also don't think sellers get too aggressive ahead of Trump/Xi meeting
Wheat markets in trouble if they break the neck line...Seasonals pointing down from here.
Past performance of course not indicative of future results!
I'm looking at out of money calls and puts in soybeans...market could go visit either one of those trendlines and I'm not sure which one.
Dec corn probably maintains a downtrend unless weather or USDA change things. Still some room to pop within the downtrend back to $4.70 area.
Brooke is on it
USDA expects to contain screwworm case in Texas, Rollins says reuters.com/business/healthc…
Jason retweeted
Screwworm is back in the US after 60 years - is a real Market Shift in the works or is it just a viral headline? @OJRenick shared Blue Line's take➡️➡️➡️
If corn can separate from wheat, we probably get a 10-20 cent recovery. Didn't have July corn challenging contract lows on my bingo card.
Key upside reversal for July Hogs. Is it another selling opportunity within the downtrend? Seasonals suggest hogs could finally get going here.
Past performance is not indicative of future results!
If Crude Oil spike can't get the fire going under corn, what's left? Still looking at the long side from here with a lot of premium sucked out of the market recently.

























