This week will be important to the grain markets on both supply stories and demand stories alike.
In Soymeal, the 342.0 – 358.0 level is what I have been watching lately and participated in a few times. This morning we are back to 342.0 and this is the 8th time we are looking to hold support.
I looked up at my quotes this morning and noticed that Oats, the poor mans grain market was almost the same price as corn.
Reminder: The markets are closed on Monday for Labor Day and will re-open on Monday night on a regular Sunday schedule!
Throughout this entire growing season, I have heard comparisons to the best growing season on record, 2004.
Here are a few charts that I encourage bean, corn and cotton traders to pay some attention.
The USDA released their August WASDE. A summary table of the report is below…
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There is a lot of cotton on the global market right now.
Hooking price action in the Japanese Yen?