Take a fresh look at your current marketing positions in advance of a big dump of USDA and CFTC data hitting the market in the days ahead.
The daily charts look a lot like they did on Tuesday, as traders appear hesitant for the time being to break out one way or the other.
In the race to be the first to report a story, we’ve seen several media outlets erroneously report on the China/US trade situation recently.
“Buying the rumor” was prevalent again today in the grain/oilseed markets, particularly in the 11:00-12:30 CST time frame.
In this Hedgucation 101 webinar, Broker Jake Swart shows examples of how using futures & options along with the sale of physical grain bushels can benefit your operation.
The four month trend line support gave out in nearby corn futures today, likely triggering sell stops and encouraging some of the estimated net long 90,000 “managed money” futures and options traders to seek an exit over the short term.
Despite the lack of a January USDA report today, everyone should be focus on their next move once the government re-opens.
In last week’s video, we were talking about price charts for corn, soybeans, and wheat all holding support. So far this week, the shoe is on the other foot, it’s all about holding previous resistance.
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.
The question weighing on all traders’ minds: what will the Fed do tomorrow? Where will macro market prices go? Where will this inverted head & shoulders in corn lead?