Commodities

Corn, Wheat And Soybeans Close Red; What To Know

Published

3 years ago

April 12, 2021

Grains are picking up volatility in the Commodity Markets with news driven headlines as the last 2 weeks. To start this week off, volatility has done anything but, slow down. Corn closed down around -1.65%, Wheat closed around -1.72% and Soybeans closed around -1.43%.

China was in the headlines today with the USDA confirming exports of 132,000 tonnes of soybeans to China for the 2021/2022 year. Also, 110,000 tonnes of soybeans to Bangladesh for a totals of 8.9 million bushels sold.

Despite reports on exports coming out of China today, Soybeans sold on heavy volume closing below the 50 day moving average for the 2nd time in less than a month.

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Wheat closed down 10.75 points and/or -1.68%. This comes after a rally off of the lows from the end of March and a attempt to break back over the 50 day moving average.

Wheat planters are speeding up their planting process as South Dakota already has 30% planted beating their average of 14% and Washington has 50% planting beating their average of 32%.

The top Wheat state in the spring time, North Dakota already has 8% planted verse its average of 2%.

Corn is by far the strongest looking chart in my opinion as it broke out and is holding above the breakout area despite recent selling the past 2 days.

Referring to the data source from the USDA, the image above shows Corn having uncharacteristically high shipments in March but projected to cool off into April.

USDA Crop Progress Report Released Today

Wheat

Spring planted 11% vs the 5 year average of 6%

Corn

Planted 4% vs 5 year average of 3%

Cotton

Planted 8% vs 5 year average of 7%

USDA Report Schedule For The Week

Tuesday

12PM

-Cotton and Wool Outlook: April 2021

-Meat Price Spreads

-Oil Crops Outlook: April 2021

3PM

-Dairy Monthly Tables

-Feed Outlook: 2021

-Rice Outlook: April 2021

-Wheat Outlook: April 2021

Wednesday

12PM

-Feed Grains: Yearbook Tables

3PM

-Broiler Hatchery

-Turkey Hatchery

Thursday

8:30AM

-Weekly Export Sales

12PM

-Livestock, Dairy, and poultry Outlook:April 2021

3PM

-Sugar and Sweeteners Outlook: April 2021

-Potato Stocks

Commodities

Commodities: Soybeans Is Trading Near A Key Level

Published

2 years ago

May 22, 2022

Austin Daniels

Grains have saw a BOOM and as commodities tend to trade, we should expect a BUST, right? Well maybe that is not the case yet because Soybeans in trading near a very important level.

Soybeans is trading over 100 points off of Mays low as it is inching closer to the key $1,800 area.

As you can see the chart above, you can see that around 2012 Soybeans was trading near the current levels it is trading at.

This key area is going to be $1789 and above this level could be a nice breakout potentially.

Right now Soybeans currently trades at $1705 but, it has been consolidating for a few weeks now as it has traded in a range around $1600-$1700.

Commodities

Wheat Breakouts Out Of Channel…AGAIN

Published

2 years ago

May 16, 2022

Austin Daniels

Wheat Futures saw a gap up as futures opened last night.

This came after it broke out on Thursday and it has gained momentum Friday followed by a gap up on Sunday.

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Commodities

Soybeans Trying to Breakout Over $1600

Published

2 years ago

February 18, 2022

Austin Daniels

It has been quite the ride for Soybean traders the past few months as it has gone from $1600 back down to $1200 and now back at $1600.

The question is will it be a double top or will it actually breakout above $1600 this time.

First, I want to give credit to our very own @ChartBreakouts on twitter for calling this breakout via twitter.

#SOYBEANS is trying to breakout. pic.twitter.com/qrBkbmv2bD
— Sir Chartist (@ChartBreakouts) December 16, 2021

The Chart

Since Soybeans had bottomed around $1200 it had broken out and not looked back. As you can see this current area is very strong resistance from a few months back and all eyes will be on the $1600 area.

Earlier this week Soybeans did try to gain momentum over $1600 but that was not long lived and in result it fell back below $1600.

This morning Soybeans is currently trading around $1599 and is on watch today to see if demand can come into it and push it higher