Because virtually the whole world is suffering from massive drought this summer, many crops are in bad shape. This is true with the U.S. cotton crop and it's also true with the U.S. corn crop, which according to USDA reports, barely half of is in good or excellent condition as of last week.
This is significant because the U.S. is the largest global producer...
Fundamental Snapshot
China
Weaker than expected growth in China was reported overnight, with real estate leading the way to the downside. The weaker than expected data prompted their Central Bank to announce a surprise interest rate cut. We are seeing the slower growth data have ripple effects in commodities this morning with oil down over 5% and soybeans down...
Fundamental Snapshot
WASDE Estimates
Reuters has complied estimates for Friday’s WASDE report. The average analyst estimate for corn yield is 175.9, with production at 14.392. The average estimate for soybean yield is 51.1, with production at 4.481. Over the years, the August report has been known to offer big surprises to the market.
Weekly Export Sales
Corn:...
A small update on the corn futures possible breakout of a channel. We have even more confirmation of a channel now, with a total of 6 obvious points, 3 on each side of channel. The breakout of the channel should result in a big movement, I personally believe, it will be a shortside trade, however, we must wait for confirmation before making any major decisions.
Possible breakout either side of the corn futures channel that I have created. As you can see there have been multiple touches on the channel on the upside and downside. Once the stock decides to breakout of the channel, there is possibility for either a long or short position of the stock. The target should be the a movement of half of the size of the channel...
Fundamental Snapshot
Crop Progress
Yesterday’s weekly crop progress report showed further declining crop conditions. Good/Excellent conditions for soybeans were down 1%, to 59%, which was in line with expectations. However, corn G/E ratings fell 3%, to 58%, 2% lower than expectations.
Private Estimates
DTN released their yield estimates for corn and soybeans...
Fundamental Snapshot
Weekly Export Sales
Corn: Net sales of 57,900 MT for 2021/2022 were down 62 percent from the previous week, but up 31 percent from the prior 4-week average. Net sales of 256,700 MT were reported for 2022/2023.
Soybeans: Net sales reductions of 11,000 MT for 2021/2022 were down 81 percent from the previous week and 90 percent from the prior...
ZC / CORN FUTURES
About FUNDAMENTAL ANALYSIS.
---We are now in the corn-demand zone and there are many factors supporting the buying.
1-The Ukrainian war.
2- - dehydration.
3-The rise in the price of oil will lead to a rise in the price of transportation.
About TECHNICAL ANALYSIS
--- we look at (" Sell VOLUME ") and ("Sell pressure") is in decreasing ,...
Corn
Technicals (September): September corn futures didn’t see much follow-through early in the overnight session but are firming up this morning, taking out yesterday’s highs. Previous resistance is now support, that comes in from 586-589. If the Bulls can continue to defend this pocket, we could see an extension of the relief rally take us to the 624-630 area....
Corn
Commitments of Traders Update: Friday’s CoT report showed Managed Money were net sellers of 25,871 futures/options contracts through July 19th. 24,916 of this was long liquidation, just 955 were new short positions. This shrinks their net long position to 125,303 contracts. Broken down that is 202,400 longs VS 77,097 shorts.
Fundamentals: Corn futures had...
According to my analysis ,I think there is a High probability for the price to hit the level mentioned in the chart .So you can take this trade with low risk ,because we saw a Golden Point with a good volume that confirm our probability..
Hello ladies and gentlemen, according to my graphical analysis Of The ZC! FUTURES , there is a high probability of drop to the level mentionned in the coming period.
CBOT
