Monthly Archives: August 2010

Key Retracements in Corn, Wheat, Beans, Dow

December corn corrected 38% of its rally from its July 27th low at 375 up to the Aug 5th 10 month hig at 4.39. a

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Its 7AM and we will see the 10000 print today

Today looks to put corn and the beans on the defensive. The Dow futures are already down 110pts, and the low is 10,037. Hmmm. 4

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6 week low in the Crude at 72.75

Crude oil made a fresh new 6 week low today at 72.75. A trade down to 72.15 should be a chance to cover another 1/3

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8-month high in CZ, Our Dow cash target is Hit

New crop Corn, (CZ) settled at a new 8-month high today at 4.36 1/4. A good close and one which opens the possible door to

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10,169 or 10040 Should Give Dow Support

Watching the current sell off in the Dow. Bottom line, we had a 6-week 1,107 point rally, which largely went un heralded. Have a 513

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Wheat gives us a key 50% retracement

September wheat traded at 4.55 on June 29th, the day before the Acreage report. 27 trading day’s later on Aug 6th, Sep wheat topped

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Monday Morning Quarterback

To Recap:On June 29th, we posted a contract low in CZ at 343 1/4. On Aug 5th, we posted an 8-month high at 438 3/4.

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Bullish Corn if we settle above 4.30 next week

We got a pretty bearish number at first glance on Thursday. We are showing great yields on USDA at 165 bu. We probably would have

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Cover 1/2 of Short Crude Position Today

Last Friday, Aug 6th, you can go back and see, that I had a chart and a reccomendation to sell crude oil short against

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Settle above 425 CZ and we are looking for another leg up

USDA has spoken. Bottom line, big crops with big demand. Best of Both worlds for our farmers.
Bearish yields w/ corn at 165 and

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