Technically Speaking

December corn has fallen for seven consecutive days and is more than 30 cents from the recent high. Bearish implications from the soon-to-be enacted 25% tariff on the U.S.' number one corn importer Mexico, along with fund liquidation from favorable South American weather, are...

The price you pay for record high values is the anxiety and volatility that inevitably goes with them. That is one situation where technical analysis helps, so let's have a look.

Kansas City wheat, along with the other two U.S. wheat markets, show a possible reversal pattern and buy signal on Tuesday and Wednesday after challenging the contract lows on Monday.

Corn futures through the last quarter of 2024 have been quick to accelerate through technical roadblocks and prices are facing another technical test at $4.60.

After having support since mid-August at the $10.12 to $10.15 area, new-crop November 2025 soybean futures last week broke down slightly below that support area and may just have begun another leg lower. Although there is plenty of growing weather yet to endure in South...

November soybeans have been battered and beaten up. The market was already reeling when USDA came up with one million additional acres of soybeans planted and a record yield of 53.2 bpa. In the past few weeks, soybeans have registered new contract lows as funds reveled in...

September Chicago wheat shows hints of buying at their lowest prices in nearly four years but haven't yet been able to break resistance.

With poor economic news such as the unemployment rate rising to 4.3% filtering out in the past week and the surge in the Japanese yen, the U.S. Dollar Index has plunged to its lowest level since March. Typically, that would be very supportive for U.S. wheat, as would the expected...

Favorable crop prospects in the U.S. have encouraged specs to sell November soybeans to their lowest price level in over three and a half years, creating a bargain for potential buyers. Technically speaking, there is also reason to believe long-term support may be near.

Markets seem to get overdone to the upside and the downside. Following the recent bearish slide in corn and especially soybeans and wheat prices, it is difficult to talk about anything other than the following.

More than just salad dressing, the world's plant oils are increasingly being sought out as low-carbon substitutes for fuel as prices show signs of increased demand.

So far, managed money has been rewarded for being bearish corn. Will that continue?

Managed futures funds are heavily net short in corn futures, but cash prices reflect uncertain prospects for 2024 production and strong demand at these lower prices.

Minneapolis September wheat is getting very oversold and is ripe for a correction.

After trading higher in late April and May, July contracts of both corn and wheat have fallen back the past two weeks, but it is Chicago wheat that may have stronger potential for technical support.

With last week's crop progress report indicating that corn was 83% planted as of Sunday, and slightly ahead of the 5-year average, there is no doubt that the U.S. corn crop is off to a favorable start. .

On May 24, July Chicago wheat closed near $7 for the first time since August 2023, helped by a number of weather surprises in early 2024.

On May 14, 2024, the U.S. initiated a new round of tariffs on Chinese goods, always a touchy subject for the soybean market. Traders might be wondering about retaliation from China; but so far, soybean prices are showing no concern.

Just since April 18, Kansas City July wheat has surged $1.20, fueled by several frost/freeze events in key Russian wheat areas with another report of frost over the weekend.

The corn planting season is here and challenges are already emerging as the rains keep coming. December corn prices turned higher and we have to wonder how much potential there may be for more gains ahead.