November 28, 2014 Written by Chris Robinson Corn: March corn opened lower, bounced 7 cents early and then chopped lower through the rest of the abbreviated session to finally end down 3 ½ cents at $3.88 ¾ . For the week, CH lost 3 ½ cents on the week and oddly, down just ½ for the entire month. Exports today were very healthy coming in at 944,900 MT. This was up 4 percent on the week and 59 percent from the prior 4-week average. Monday we will get a fresh commitment of traders report, but given the short week and lack of movement, it most […]
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Key Support Here in Jan Beans $999
50 % retracement of the $1.74 Rally…. Might be a good support level on an initial test…
Cutting to the Chase
Cutting to the Chase – Traders Exclusive – Chris Robinson talks about the USDA report. They did lower the yield for corn and raise the yield for soy beans.
Funds enter Monday’s USDA long 187K contracts of corn
Corn: CZ closed down 3 ¾ cents at $3.67 ½. For the week CZ lost 9 ¼ cents. The average analyst guess for Monday is 14.528 billion bushels. The average analyst’s yield guess is 175 bu/acre. World Supply 2014/15 ending stocks average analyst’s guess is 190.77 MMT. Argentina announced 8MMT of new corn export quotas which will hit market sometime during March 2015. The weekend harvest weather looks dry and cold here in the US. Planting is going forth as well as expected with only 15% of Argentina’s acres delayed due to lingering drought. Monday we will get a worldwide supply update. The trade is […]
Funds enter Monday's USDA long 187K contracts of corn
Corn: CZ closed down 3 ¾ cents at $3.67 ½. For the week CZ lost 9 ¼ cents. The average analyst guess for Monday is 14.528 billion bushels. The average analyst’s yield guess is 175 bu/acre. World Supply 2014/15 ending stocks average analyst’s guess is 190.77 MMT. Argentina announced 8MMT of new corn export quotas which will hit market sometime during March 2015. The weekend harvest weather looks dry and cold here in the US. Planting is going forth as well as expected with only 15% of Argentina’s acres delayed due to lingering drought. Monday we will get a worldwide supply update. The trade is […]
Ask the Experts: November 10 USDA Crop Production & WASDE Reports
Ask the Experts: November 10 USDA Crop Production & WASDE Reports
December Soybean Meal tests Key support at $3.60
We rallied from contract lows to contract highs in 20 days. If December meal takes out 3.60… that would be bad for bulls who got long based on newspaper stories about meal shortages. Buy the rumor sell the fact.
Will Gold test the 1125 an ounce level? The Charts Don’t Lie
Gold based between the late 90’s and until 2003 at around $300 bucks an ounce. it spiked to its high of 1950 during the fear trade run up of the 2012 election. That August, 3 months before the 2012 election, the gold bugs had their day in the sun. Today, we are testing 4 year lows at 1169. Simple math gives us 1125 as the half way back point of this historic rally. Below I’m posting two charts. A picture is worth 1,000 words. First is a weekly chart of the Dec 2014 futures contract.
