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Where is Support for the Dow?
Above is a chart of June Dow futures: There are some “what ifs” under the market for bears looking for breaks.
First Support comes in at 16600. Second T-line comes at 16450 and the Third, longer term T-line projects an intersection at 16000. The high was 16962. A test of 1600 would be a 5 1/2 percent correction.
I have NO IDEA if we are going to test these levels. The grind seems to be inexorably higher for the Stock Index’s as money continues to come in every two […]
Pressure on Corn – Traders Exclusive – Chris Robinson talks about the pressure on corn and how China is not accepting our DDGS anymore.
Time to Fade the Grain Sell off?
We escaped the Spring and Early Summer without the much ballyhooed planting delays. Its June 9th, and some of the remaining grain perma bulls were touting an early freeze coming in late August?
The weatherman can’t even get past the next 72 hours with accuracy much less 72 days, in my opinion.
When its all boiled down, we still have plenty of time for some weather issue. Remember 2012? we were on pace for a big crack lower in corn, until Mother Nature turned off the water fountain after July 1st.
So is there still a possibility for a weather issue to save the bull’s […]
Grain Hedgers Update
Written by Chris Robinson
Corn: July corn settled up 10 cents at $4.59. For the week, CN dropped 5 ¾ cents, while new crop CZ gained ¼ cent. CZ fell to a new 5-month low today, but then rallied back impressively clawing back 12 cents from that low to settle up 10 ½ cents at $4.57 ½. CZ posted a large outside-up-day on the daily charts. In the past 20 trading days CZ dropped 69 ½ cents, or 14%. The market vaporized 85% of its 5-month, 82 cent rally. […]
Watching the July/Nov Spread – Traders Exclusive – Chris Robinson talks about the grains, Goldman roll and key support levels in beans.
Significant Trend Lines In SX14
November Beans failded at 12.43 and again at 12.25. These two trend lines are long term and should not be ignored by bulls or bears.
IF SX can’t settle above $12.50 and turn the trend back to neutral/bullish, in my opinion, there is a lot of downside risk.
I’m not a dyed in the wool bear or bull, so if you don’t agree, please save the nasty emails. If you’ve read my stuff, I’m much more concerned about making $ versus being “right”. For now I want to sell rallies, but if we settle above 12.50, I’d re-evaluate my bearish opinion.
See Chart Below and […]
My Video Hit Today on TradersExclusive
Grain Traders Watch that Corn: Bean Ratio
Written By Chris Robinson
Corn: July corn settled up 1 ¼ cents at $4.78. CZ settled up 1 ¾ cents at $4.76 ¼. For the week, July dropped 5 ½ cents and CZ dropped 5 ¾ cents. We had a pretty quiet pre-holiday, low volume trade. Bears are still cheering the 48 ¼ cent “correction” we had over the past 9 trading sessions in new crop CZ. With a relatively friendly weather forecast for the 10 day outlook, the bulls will need to come up with either a demand […]