Happy New Year to all of our clients and paid subscribers. I am sure that the 2019 markets will bring many opportunities to learn and improve on our trading and hedging strategies, and glad to have you along for the ride.
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Several of the markets we track closely are “holding the line” as trading commences for 2019, despite the lack of government data from USDA due to the partial government shutdown.
- Hard Red Wheat leads grains to the upside today, bouncing back from contract lows and a low RSI, key test coming up at the 50 day moving average;
- March Corn holds trend line support drawn off September lows, next test 3.85
- Dec Corn approaching multi month resistance at 200 day moving average;
- March Soymeal and Soybeans follow suit, holding the trend line support keeps mildly bullish technical posture;
- Milk producers have hedging opportunity in summer/fall months;
- Are Feeders the Leaders? Feeders break trend line support, Fats hold;
- Dec Cotton in free-fall but RSI 19.2 extreme oversold
- Opportunity in Rough Rice with China opening up to US imports for first time?
Contact your broker to discuss your trading or hedging plan!
This article originally appeared in the Technical Ag Knowledge Newsletter “Holding the Line **VIDEO Chart Analysis**” on 01/03/19.
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