In today's video I just go over some of my general thoughts about the corn market and some of its current technical and fundamental factors that I believe are driving the market. Hope you enjoy and stay tuned for more! :) CBOT:ZC1! CBOT_MINI:XC1! AMEX:CORN
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...
Wheat has finished 5 waves down of the expanded flat structure that started in Mar 2008. The next up should be a rally to ATH. Inflation is coming.
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...
Introduction to Corn Futures (CBOT) Corn Futures, central to the commodities market, are traded on the Chicago Board of Trade (CBOT). These futures contracts are standardized agreements to buy or sell 5,000 bushels of corn, providing traders with a mechanism to hedge against price changes or to be exposed to future price movements in the agricultural...
December corn futures, often referred to as the “new crop” contract because it is the price for the U.S. crop that is about to get planted. The first crop progress report of the year showed just 2% of the crop is planted in the United States. With the crop hardly in the ground, there are uncertainties around production potential that tend to offer seasonal...
Still with a view that a further retracement is possible to the 4280 area. However the overall theme is still bullish. Depending on volatility, the price might consolidate at this area before going higher.
Multiple support levels have been breached, accompanied by the formation of a FVG (Fair Value Gap) pattern, along with the appearance of a Double Maru Sell signal. Consequently, we anticipate the price to likely retest the Resistance level before initiating a downward movement. Furthermore, a reversal signal has been identified in the candlestick pattern,...
The chart clearly shows a Triangle Pattern Breakout, accompanied by the formation of an Inverse pattern, confirming the movement, along with the emergence of a Lower Low chart pattern. Therefore, traders should seize opportunities when the price retraces to the inverse zone or potentially around the area where support becomes resistance.
In this video I go over my thesis on why I am short term long the corn futures market due to the energy market picking up some positive momentum due to strong manufacturing data coming from the two power houses U.S. and China and how I think this could positively impact the price of corn due to it's use in ethanol. Higher crude oil prices can generally have a...
Chicago Board of Trade corn futures fell on Monday as traders took profits after steep gains the prior session and as favorable U.S. weather was seen potentially increasing acres planted this spring with the feed grain. CBOT May corn settled 6-1/2 cents lower at $4.35-1/2 a bushel. The strongest rally in eight months last Thursday had lifted the benchmark...
Chicago Board of Trade (CBOT) wheat futures fell on Monday as traders expected the U.S. Department of Agriculture (USDA) to report the strongest winter crop ratings in eight years in a weekly report due for release later in the day. Wheat futures were also pressured by large global stocks and limited U.S. export demand as rival suppliers are offering their...
From a technical standpoint, prices have consolidated into a bull flag consolidation pattern since 14 March, breaking out of the flag resistance (orange trend channel) yesterday, albeit with normal volume. This localised breakout coupled with the breakout of the long-term parabolic bowl accumulation pattern at 4,150, a pattern forming since July 2023, signalled a...
I think FCPO has found a support last Friday. Price failed to continue lower instead there is a strong push to the upside. It is also align with the support area created in March. A push higher will probably target 4244. Once the resistance line have been breached then 4280 should be a new target.
Chicago Board of Trade soybean futures eased on Monday on good supplies, seasonally slowing U.S. export demand and spillover pressure from falling corn and wheat prices. -CBOT May soybeans settled down 5-3/4 cents at $11.85-3/4 per bushel. -CBOT May soymeal settled $4.30 lower at $333.40 per short ton, and May soyoil gained 0.29 cent to settle at 48.24 cents per...
Supply and demand zones for Wheat on the weekly chart. Once you enter the zone, look for the lower timeframe reversal patterns, extended waves, classic trendline breaks, etc. Drop down to the Daily for refined supply and demand zones. Drop down to 1 hour chart for the current trend after you see the reversal pattern.
Thursday marked the last trading day of the month and first quarter, which coincides with one of the more highly anticipated USDA reports of the year; quarterly stocks and prospective plantings. The USDA estimates that there will be 86.51 million acres of soybeans planted in the U.S. this year, that was a hair below the average analyst estimate of 86.53 million...
Thursday marked the last trading day of the month and first quarter, which coincides with one of the more highly anticipated USDA reports of the year; quarterly stocks and prospective plantings. The USDA estimates that there will be 90.036 million acres of corn planted in the U.S. this year, that was well below the average analyst estimate of 91.776 million and...