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Numbers were friendly as expected for Corn and Beans: All numbers are in millions of bushels.

 Corn 1.8 which was on the low end of the range for stock piles.  Bullish
Beans: 150 again, mid to low range of guess.  Bullish
Wheat:  575  on the high end of expectations: Bearish

World Stock piles in Million Metric Tons

world wide,  162.5 for corn  which is Bullish

Soybeans: 71 Friendly but not super bullish

Wheat World  wide:  183  Above high end of expectations:  Bearish.

Bottom line:  We got the bullish corn and bean numbers and we are selling off in response.

Feels like the highs are in until January […]

This isn’t the big USDA report to be worried about in my opinion.
That is on the horizon for Friday Jan 10th, when we get final production and world wide production for grain for 2013 as well as updates on acres and projected crops for S.A.

As far as S.A goes,  weather has so far been non-threatening,  with nothing out there so far hurting production.  That could change in 5 to 7 days, so I wouldn’t put that bull story to bed yet.  Lord knows the bulls won’t.

Today,  CH has a ton of resistance at $4.50.  SF at 13.50 with support at 13.00.   I […]

This isn’t the big USDA report to be worried about in my opinion.
That is on the horizon for Friday Jan 10th, when we get final production and world wide production for grain for 2013 as well as updates on acres and projected crops for S.A.

As far as S.A goes,  weather has so far been non-threatening,  with nothing out there so far hurting production.  That could change in 5 to 7 days, so I wouldn’t put that bull story to bed yet.  Lord knows the bulls won’t.

Today,  CH has a ton of resistance at $4.50.  SF at 13.50 with support at 13.00.   I […]

1212 is key support here.  A weekly chart going all the way back to 2009 when gold was at 875.  That’s the first intersection point.  The second intersection point was the June low at 1184.  Today’s low at 1212 was the trifecta.

This is a low risk area to initiate speculative longs.  As usual,  you must use protective sell stops.

The trend-line above?   That doesn’t come in until 1665.  Does that mean I think we’ll bounce $450 bucks to that level?  Nope.  I am not saying that at […]

Back in the 1980’s there was a commercial for a Ginsu knife.   The ad copy was  “it slices! it dices!”.  That is exactly what December does to futures traders.

Lets face it,  the only people still actively trading are trading because they had a lousy year.  That’s warning sign one.  If you had a good year,  you are booking profits and looking ahead to 2014.
People tend to trade the opening and the close,  while spending the afternoon on the computer or in the bar having “business lunches”.   Its the time of the year where you are looking at dropping cash for your wife and […]

Looking at a longer term chart of Dow Jones Futures  there are two trend-lines to consider.
The upper projects out to Dow 17,000 by the first week of January.  Wow.  That doesn’t seem possible or realistic, but that’s where the Trend line projects out towards.

Down below in the lower T-Line support doesn’t really come in until 15,500 to 15000.  Its really any one’s guess as to when the correction comes or how violent it will be.
I certainly am not professing advanced knowledge of any type.

However, […]

Looking at a longer term chart of Dow Jones Futures  there are two trend-lines to consider.
The upper projects out to Dow 17,000 by the first week of January.  Wow.  That doesn’t seem possible or realistic, but that’s where the Trend line projects out towards.

Down below in the lower T-Line support doesn’t really come in until 15,500 to 15000.  Its really any one’s guess as to when the correction comes or how violent it will be.
I certainly am not professing advanced knowledge of any type.

However, […]

The two dueling trend lines played out reasonably well.  Tomorrow its any one’s guess where SF14 heads.  After a 25 cent cleanse in the past 72 hours,  a lot of the folks who sold looking for the breakout below the support trend line, have now left blood on the field with this rally.  Now we are at the intersection of another trend line.  We spiked from 88 to 92 1/2 in the last 30 seconds of trade.  Felt more like shorts throwing in the towel than new longs […]

Ok,
Today the lower trend line held.  Who knows what will happen tonight when the electronic market opens?  No one.
For now, we settled at 75, that’s 5 cent winner or $250.00 per contract if you bought against the 12.70 trend line intersect.

One case where a trend line performed as predicted.   We could still go below that trend line by 5 or 6 cents,   squeeze out all the week longs and then turn around higher and go challenge the upper trend line of that wedge.

Overnight, make sure you have your sell stops in place.  Also,  given that the low was 12.70 1/4, […]