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...
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...
Corn Technicals (May) What more is there to say about the corn market that hasn’t been said already? The market remains range bound with daily ranges shrinking as of late, reminiscent of watching paint dry. The CME CVOL index which measures volatility remains near the low end of the years range. Typically, we start to see that increase this time of year, but...
Corn Futures ConsolidateTechnicals (May) May corn futures continue to be stuck in a sideways trade, not great if you're trading for a bigger directional move. With that said, we believe there are some great opportunities for shorter term trading opportunities on both sides of the market. If you'd like to discuss being more active on a shorter-term basis, feel...
Grain markets have flatlined to start the week as the lack of new news has kept buyers and sellers at bay. These are the technicals we are watching that could change that. Check out Blue Line Futures for technicals on Soybeans, Wheat, and Corn: bluelinefutures.com Corn Technicals (May) May corn futures were able to gain some ground yesterday, but it...
Grain futures are higher in the early morning trade as some as headline risk looms into the weekend. Corn Technicals (May) May corn futures are fractionally lower in the early morning trade as prices linger near our pivot pocket from 431 1/2-435, which just happens to be right near the middle of first support and first resistance. We like the upside...
When the calendar turns to March, gardeners get itchy to plant things. Experience teaches that it's often a good idea to hold off. The above chart shows that corn traders who were willing to wait until late April 2023 stood a much better chance of profit, both on the long and short sides, than those who jumped in during March. The weather markets of late Spring...
If you're looking at corn futures waiting for the price to bottom out, you might have a while longer to wait. Recall that prices didn't firm last year until the end of May. Yes, prices are lower now, but they've only just breached the high end of the USD3.00-4.50 range where they spent most of their time for several years after 2013. For now, we'd leave it in...
Here I am neutrally bullish, we see a (possible) double bottom, which if it breaks the next level of resistance, could bring buyers and even greater interest. On the other hand, we must take into account that this correction is normal for grain, taking into account that the situation in Ukraine has calmed down and grain exports have resumed, thus all that growth...
As above. 1M chart looking likely for continued bearish trend. Watch for break in yellow channel support line and likely long term red diagonal resistance line on the way down. Will follow. Good luck traders.
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...
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.
As shipping cost drops we see that corn , wheat , cotton are dropping fast. This is a disinflational signal OR a big recession signal. We will see what is going to happen after today's NFP and unemployment numbers. Corn is at a good support point. It may rise again if we see NFP is lower than expected or an increase in the unemployment numbers. Disclaimer –...
As described here - I'm planning to catch the breakout. Let's see if this plays out as I think. In any case - I wish you a good 2023 with lots of good trades. ;)
Next Days I See Some Bearishness On Corn Future Contract. Up to the First and Second Targets as On The Chart
As above. Likely down in channel to 600'0 range. Will follow.
Corn future is looking almost perfectly ripe for the picking. Cup and Handle forming nicely and just waiting for the breakout. RSI broke out of its downtrend bearish divergence and has bounced on the new support - showing more upside to come. Then will be an easy long (buy) to hold. Stop loss will be just under the Handle and the take profit will be 2X...
This week has brought about news on the projected corn yields dropping marginally, which in turn, is pushing this beast into higher territory. As we check out the chart we can see we have a significant golden pocket that will act as the Berlin Wall for corn. Prices below the golden pocket will act as East Berlin, controlled by the soviets during the Cold War....