10yr Corn outlook: Potential course of the Bean market for the next 10 years. Previous inflationary markets have caused for the multi year market structure to step up in price ranges. Before that range is found, Beans will need to mark a pivot high enough to ration some future demand. The low found after a major high is made, could mark an area for the future...
The Soybean futures market is generating a buy signal based on the monthly time frame based on the "Time@Mode Methodology". Notice the 8 month sideways action around the green horizontal line in 2021 which set up what turned into a 7 month rally into June 2022. When "time expires" the market tends to form a new mode at that price level (within the range of the...
Soybeans is looking decent with a nice bounce off of the GP and a technical swing failure of the local lows. The price must close above the parallel channel for me to hold this long.
US Dollar – Weekly continuous: Surpassed the Primary recover target at 102.25 and making highs not seen for 20 years. My opinion. Cash commodities can struggle to keep upward momentum when US Dollar is strong. The world is experiencing a financial crisis it has not seen for several decades. The 07/08 recession Primarily hit the US with the Housing market...
Soybeans Technicals (August): Yesterday’s USDA report put some pep in soybeans step right out of the gat, launching prices all they way up to technical resistance near $16.00. This is obviously a psychologically significant level, but it also represents the 50 and 100 day moving average, along with the breakdown point from June 22nd. Despite the friendly report,...
Soybeans Fundamentals: All eyes will be on tomorrow’s USDA report. The range of estimates for planted acres is 89.2-92.4 million, the USDA was at 91.0 in March. The average estimate for US soybean ending stocks as of June 1 is .954 billion bushels. Last year at this time we were at .769. Technicals (August): The market has rallied back to our resistance pocket,...
Fundamentals: Soybeans are under pressure to start the week, along with many other commodities and markets as last week's outside market turmoil has poured into this week's trade. This afternoon's Crop Progress report is expected to show the U.S. soybean crop near 90% planted. Good/Excellent conditions are expected to come in near 70%. Last year at this time the...
Type : Bearish Continuation Resistance: 1704'6 Pivot: 1687'6 Support : 1659'2 Preferred case: With price moving below the ichimoku cloud, we see a potential bearish continuation from our pivot level of 1687'6 which is in line with 38.2% Fibonacci retracement and horizontal pullback resistance towards our 1st support level of 1659'2 which is in line with the...
Type: Bearish Drop Resistance : 1679'4 Pivot: 1667'4 Support : 1623'6 Preferred case: With price expected to reverse off the ichimoku resistance and the descending trend line, we see the potential for bearish drop from our Pivot level at 1667'4 in line 50% Fibonacci retracement towards our 1st support level at 1623'6 in line with the horizontal swing low...
Type : Bullish bounce Resistance : 1687'6 Pivot: 1660'4 Support : 1646'6 Preferred case: With price expected to reverse off the stochastics support, we have a bullish bias that price will rise from our pivot at 660'4 in line with the 100% Fibonacci projection to our 1st resistance at 1687'6 in line with the horizontal pullback resistance and 50% Fibonacci...
Type : Bearish drop Resistance : 1759'2 Pivot: 1728'4 Support : 1637'4 Preferred case: With price expected to reverse off the stochastics resistance , we have a bearish bias that price will drop to our 1st support at 1637'4 in line with the horizontal swing low support and 100% Fibonacci projection from our pivot at 1728'4 in line with the 61.8% Fibonacci...
Type : Bearish drop Resistance : 1759'2 Pivot: 1728'4 Support : 1637'4 Preferred case: With price expected to reverse off the stochastics resistance , we have a bearish bias that price will drop to our 1st support at 1637'4 in line with the horizontal swing low support and 100% Fibonacci projection from our pivot at 1728'4 in line with the 61.8% Fibonacci...
Type : Bullish bounce Resistance : 1728'6 Pivot: 1637'2 Support : 1583'2 Preferred case: With price expected to bounce off the horizontal swing low support and the support of the stochastics indicator, we have a bullish bias that price will rise to our 1st resistance at 1728'6 in line with the horizontal swing high resistance and 78.6% Fibonacci retracement from...
Type : Bullish bounce Resistance : 1757'4 Pivot: 1658'6 Support : 1583'2 Preferred case: With price moving above our ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 1757'4 in line with the horizontal swing high resistance from our pivot at 1658'6 in line with the 50% Fibonacci retracement. Alternative scenario: Alternatively,...
Type : Bullish bounce Resistance : 1751'4 Pivot: 1639'6 Support :1581'4 Preferred case: With price moving above the ichimoku cloud, we see the potential for a bounce from our Pivot at 1694'2 in line with 38.2% Fibonacci retracement towards our 1st resistance at 1757'4 in line with horizontal swing high resistance. Alternative scenario: Alternatively, price can...
Type : Bullish bounce Resistance : 1751'64 Pivot: 1638'6 Support : 1581'4 Preferred case: With price moving above the ichimoku cloud, we see the potential for a bounce from our Pivot at 1639'6 in line with 50% Fibonacci retracement towards our 1st resistance at 1751'4 in line with horizontal swing high resistance. Alternative scenario: Alternatively, price can...
On the H4 chart, price is near our pivot of 1651'2 in line with horizontal overlap support and 38.2% Fibonacci retracement. Price can potentially rise to our 1st resistance level at 1739'0 in line with the horizontal swing high resistance. Alternatively, price may head to our 1st support at 1582'6 in line with the 61.8% Fibonacci retracement level. Our bullsh bias...
The last time we had a perfect storm situation to buy grains, we had a monster rally in both corn and beans. We are now in a similar situation, with the recent surge in Nat Gas affecting fertilizer prices. Weather in Brazil is problematic and China is struggling to produce grains locally...We are once again nearing a situation where reward to risk for buying into...