USDA Crop Report

News & commentary on the USDA Crop Report and Grain Futures markets including wheat, soybeans, corn & more

USDA Crop Report is a blog dedicated to bringing updates, news and commentary on the USDA Crop Report and the grain futures markets including wheat, corn, soybeans and more.

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10/21/2014 Corn , Beans , Meal and Wheat have buy signals

Posted on 10/23/2014 1:05:58 PM by: Larry Baer, Market Strategist @ Zaner. 312-277-0112.

Call me for trade

 

 


REVERSAL TYPE ACTION FOR CORN, SOYBEANS AND SOYMEAL

Posted on 10/23/2014 7:55:14 AM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

WE HAVE A VERY GOOD HEDGING DEPARTMENT HEADED BY TED SEIFRIED. WHY NOT TALK TO HIM OR ANY OF OUR OTHER HEDGING BROKERS. NO ONE WILL PRESSURE YOU AND WHAT HAVE YOU GOT TO LOSE? I'VE BEEN A LICENSED FUTURES BROKER FOR 41 YEARS AND TRUST NO ONE MORE THAN TED AND HIS GROUP

 

Higher closes Kansas City and Chicago wheat along with oats and soybean oil while lower for corn, Minneapolis wheat, soybeans and soybean meal. THE ACTION, STARTING LAST WEEK,. IS SHOWING SIGNS THAT THE GRAIN COMPLEX MIGHT BE OVERSOLD OR, AT LEAST, SETTING UP FOR A RETRACMENT RALLY. Now, today's action might signal this rally has come to an end but it's still too soon to know. Of course, this complex is and has been in a long term downtrend and any buy signals would have to be considered short term until proven otherwise. Part of the problem is that it seems the bears are 'loaded up' and have little ammunition left leaving a vacuum overhead. So, be careful of what you do and don't invest too heavily in either direction at this time. The wheat complex settled mixed with Minneapolis lower while  KC and Chicago (best high and close since 9/10) ended up higher.  Minneapolis and KC's nearest resistance is around 620 while Chicago's around 650. The wheat complex charts suggest, at least the short term, a bottom is in place while the long term trend remains down as just mentioned above. While my sell signals remain intact I would suggest standing aside for now. The Minneapolis/KC spreads remain disappointing after making their lowest low (board wise) since at least May 6th. Oats made its best close since Sept. 15th still at the upper end of good resistance. I still prefer to remain on the sidelines unless it settles over 358. Rice settled down but still had reversal type action yesterday. Also. there's heavy resistance up to the 1310 area, A close over 1300, though, could reverse its downtrend trend. Corn settled lower in reversal type action after making its highest high since Sept. 3rd again also making its best high since Sept. 3rd continuing to act like the three dollar level could hold for some time. Strong looking resistance remains from 360 up to around 375 which it did penetrate before selling off. Every farmer that reads my comments should call me about hedging concerns so I can place them with one of our qualified hedging brokers. You should always be thinking ahead. Since everybody knows the government is looking at record crops and yields and corn storage remains a factor. Our hedge department says many farmers have been holding on to corn from the previous year(s) leaving little room for storage whereby farmers would be forced to sell a large part of their crops in the near term. WITH ALL THAT BEING SAID THE GRAIN COMPLEX HAS BEEN HOLDING AS MENTIONED ABOVE. The beans (best high since Sept. 18th) and meal (best high since Sept. 3rd) settled lower in reversal type action while oil closed up again.Don't forget a large percentage of last year's bean crop is still in South America with another season coming. Meal also bounced off good resistance is now approaching a strong looking resistance area while the July15/Dec15 meal/oil spreads dropped back four ticks. SELL SIGNALS FOR MINNEAPOLIS, KANSAS CITY AND CHICAGO WHEAT ALONG WITH CORN, ROUGH RICE SOYBEANS, SOYBEAN MEAL AND SOYBEAN OIL. CALL FOR DETAILS.  For additional charts, quotes, news, commentary & more sign-up for a FREE 30-day trial to Market head.Com.

 

  

 

 

 

 

 


REVERSAL TYPE ACTION FOR CORN, SOYBEANS AND SOYMEAL

Posted on 10/23/2014 7:55:08 AM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

WE HAVE A VERY GOOD HEDGING DEPARTMENT HEADED BY TED SEIFRIED. WHY NOT TALK TO HIM OR ANY OF OUR OTHER HEDGING BROKERS. NO ONE WILL PRESSURE YOU AND WHAT HAVE YOU GOT TO LOSE? I'VE BEEN A LICENSED FUTURES BROKER FOR 41 YEARS AND TRUST NO ONE MORE THAN TED AND HIS GROUP

 

Higher closes Kansas City and Chicago wheat along with oats and soybean oil while lower for corn, Minneapolis wheat, soybeans and soybean meal. THE ACTION, STARTING LAST WEEK,. IS SHOWING SIGNS THAT THE GRAIN COMPLEX MIGHT BE OVERSOLD OR, AT LEAST, SETTING UP FOR A RETRACMENT RALLY. Now, today's action might signal this rally has come to an end but it's still too soon to know. Of course, this complex is and has been in a long term downtrend and any buy signals would have to be considered short term until proven otherwise. Part of the problem is that it seems the bears are 'loaded up' and have little ammunition left leaving a vacuum overhead. So, be careful of what you do and don't invest too heavily in either direction at this time. The wheat complex settled mixed with Minneapolis lower while  KC and Chicago (best high and close since 9/10) ended up higher.  Minneapolis and KC's nearest resistance is around 620 while Chicago's around 650. The wheat complex charts suggest, at least the short term, a bottom is in place while the long term trend remains down as just mentioned above. While my sell signals remain intact I would suggest standing aside for now. The Minneapolis/KC spreads remain disappointing after making their lowest low (board wise) since at least May 6th. Oats made its best close since Sept. 15th still at the upper end of good resistance. I still prefer to remain on the sidelines unless it settles over 358. Rice settled down but still had reversal type action yesterday. Also. there's heavy resistance up to the 1310 area, A close over 1300, though, could reverse its downtrend trend. Corn settled lower in reversal type action after making its highest high since Sept. 3rd again also making its best high since Sept. 3rd continuing to act like the three dollar level could hold for some time. Strong looking resistance remains from 360 up to around 375 which it did penetrate before selling off. Every farmer that reads my comments should call me about hedging concerns so I can place them with one of our qualified hedging brokers. You should always be thinking ahead. Since everybody knows the government is looking at record crops and yields and corn storage remains a factor. Our hedge department says many farmers have been holding on to corn from the previous year(s) leaving little room for storage whereby farmers would be forced to sell a large part of their crops in the near term. WITH ALL THAT BEING SAID THE GRAIN COMPLEX HAS BEEN HOLDING AS MENTIONED ABOVE. The beans (best high since Sept. 18th) and meal (best high since Sept. 3rd) settled lower in reversal type action while oil closed up again.Don't forget a large percentage of last year's bean crop is still in South America with another season coming. Meal also bounced off good resistance is now approaching a strong looking resistance area while the July15/Dec15 meal/oil spreads dropped back four ticks. SELL SIGNALS FOR MINNEAPOLIS, KANSAS CITY AND CHICAGO WHEAT ALONG WITH CORN, ROUGH RICE SOYBEANS, SOYBEAN MEAL AND SOYBEAN OIL. CALL FOR DETAILS.  For additional charts, quotes, news, commentary & more sign-up for a FREE 30-day trial to Market head.Com.

 

  

 

 

 

 

 


THE GRAIN COMPLEX COULD BE OVERSOLD AND ITS BOTTOM IN PLACE FOR A WHILE

Posted on 10/22/2014 7:25:40 AM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

WE HAVE A VERY GOOD HEDGING DEPARTMENT HEADED BY TED SEIFRIED. WHY NOT TALK TO HIM OR ANY OF OUR OTHER HEDGING BROKERS. NO ONE WILL PRESSURE YOU AND WHAT HAVE YOU GOT TO LOSE? I'VE BEEN A LICENSED FUTURES BROKER FOR 41 YEARS AND TRUST NO ONE MORE THAN TED AND HIS GROUP

 

Higher closes for oats, rough rice, corn, Minneapolis, Kansas City and Chicago wheat along with soybeans, soybean meal and soybean oil. THE ACTION, STARTING LAST WEEK,. IS SHOWING SIGNS THAT THE GRAIN COMPLEX MIGHT BE OVERSOLD OR, AT LEAST, SETTING UP FOR A RETRACMENT RALLY. The lows across the board have held continuous assaults and only the bean oil took out a recent low so far. Of course, this complex is and has been in a long term downtrend and any buy signals would have to be considered short term until proven otherwise. Part of the problem is that it seems the bears are 'loaded up' and have little ammunition left leaving a vacuum overhead. So, be careful of what you do and don't invest too heavily in either direction at this time. The wheat complex settled higher with Minneapolis and KC's nearest resistance around 620 while Chicago's around 650. The wheat complex charts suggest, at least the short term, a bottom is in place while the long term trend remains down as just mentioned above. While my sell signals remain intact I would suggest standing aside for now. The Minneapolis/KC spreads remain disappointing after making their lowest low (board wise) since May 6th before settling higher. Oats made its best high and close (4 straight) in  over two weeks but still in good resistance but at least now moving towards its upper end. I still prefer to remain on the sidelines unless it settles over 358. Rice had its worst low  since Sept. 11th again but closed higher this time in reversal type action. Also. there's heavy resistance up to the 1310 area, A close over 1300, though, could reverse its downtrend trend. Corn settled higher also making its best high since Sept. 3rd continuing to act like the three dollar level could hold for some time while staying around the 350 psychological area. Strong looking resistance remains from 360 up to around 375. Every farmer that reads my comments should call me about hedging concerns so I can place them with one of our qualified hedging brokers. You should always be thinking ahead. Since everybody knows the government is looking at record crops and yields and corn storage remains a factor. Our hedge department says many farmers have been holding on to corn from the previous year(s) leaving little room for storage whereby farmers would be forced to sell a large part of their crops in the near term. WITH ALL THAT BEING SAID THE GRAIN COMPLEX HAS BEEN HOLDING AS MENTIONED ABOVE. The bean complex settled higher but with oil making its worst low since Sept. 11th. Don't forget a large percentage of last year's bean crop is still in South America with another season coming. Meal is now approaching a strong looking resistance area. The July15/Dec15 meal/oil spreads continue to trade hgirh now making it best high and close since the middle of September while remaining above money. Oil had reversal type action but has the price of a new recent low.SELL SIGNALS FOR MINNEAPOLIS, KANSAS CITY AND CHICAGO WHEAT ALONG WITH CORN, ROUGH RICE SOYBEANS, SOYBEAN MEAL AND SOYBEAN OIL. CALL FOR DETAILS.  For additional charts, quotes, news, commentary & more sign-up for a FREE 30-day trial to Market head.Com.

 

  

 

  

 

 

 

 


THE GRAIN COMPLEX COULD BE OVEFSOLD AND ITS BOTTOM IN PLACE FOR A WHILE

Posted on 10/21/2014 7:41:27 AM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

WE HAVE A VERY GOOD HEDGING DEPARTMENT HEADED BY TED SEIFRIED. WHY NOT TALK TO HIM OR ANY OF OUR OTHER HEDGING BROKERS. NO ONE WILL PRESSURE YOU AND WHAT HAVE YOU GOT TO LOSE? I'VE BEEN A LICENSED FUTURES BROKER FOR 41 YEARS AND TRUST NO ONE MORE THAN TED AND HIS GROUP

 

Higher closes for oats and corn while lower for Minneapolis, Kansas City and Chicago wheat along with rough rice, soybeans, soybean meal and soybean oil. THE ACTION, STARTING LAST WEEK,. IS SHOWING SIGNS THAT THE GRAIN COMPLEX MIGHT BE OVERSOLD OR, AT LEAST, SETTING UP FOR A RETRACMENT RALLY. The lows across the board have held continuous assaults and only the bean oil is being threatened at this time. Of course, this complex is and has been in a long term downtrend and any buy signals would have to be considered short term until proven otherwise. Part of the problem is that it seems the bears are 'loaded up' with little ammunition left leaving a vacuum above not to mention a lot of resistance overhad. So, be careful of what you do and don't invest too heavily in either direction at this time. The wheat complex settled slightly lower with Minneapolis and KC's nearest resistance around 620 while Chicago's 650. The wheat complex charts suggest at least a short term bottom is in place while the long term trend remains down as just mentioned. While my sell signals remain I would suggest standing aside for now. The Minneapolis/KC spreads remain disappointing. Oats made its best high and close in two weeks but still in good resistance chopping around over this same period of time. Holding 320 was important in my opinion but I still prefer to remain on the sidelines unless it settles over 358. Rice had its worst low and close since Sept. 11th continuing to look weak overall with heavy resistance up to the 1310 area, A close over 1300 could reverse its downtrend trend. Corn settled one tick higher but acting like the three dollar level could hold for some time while chopping around the 350 psychological area. Strong looking resistance remains from 360 up to around 375. Every farmer that reads my comments should call me about hedging concerns so I can place them with one of our qualified hedging brokers. You should always be thinking ahead. Since everybody knows the government is looking at record crops and yields and corn storage remains a factor. Our hedge department says many farmers have been holding on to corn from the previous year(s) leaving little room for storage whereby farmers would be forced to sell a large part of their crops in the near term. The bean complex settled down with oil making its worst low and close since Sept. 11th & 12th..Don't forget a large percentage of last year's bean crop is still in South America with another season coming. The July15/Dec15 meal/oil spreads continue to trade around even money which could mean the beans may not be done yet. Oil closed down, and while still bearish, has showed some bottoming signs or at least it's in a consolidation mode. However, that possible bottoming action could be slowly fading away. SELL SIGNALS FOR MINNEAPOLIS, KANSAS CITY AND CHICAGO WHEAT ALONG WITH CORN, ROUGH RICE SOYBEANS, SOYBEAN MEAL AND SOYBEAN OIL. CALL FOR DETAILS.  For additional charts, quotes, news, commentary & more sign-up for a FREE 30-day trial to Market head.Com.

  

 

  

  

 


NO UPDATE TODAY

Posted on 10/20/2014 6:34:47 AM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

WE HAVE A VERY GOOD HEDGING DEPARTMENT HEADED BY TED SEIFRIED. WHY NOT TALK TO HIM OR ANY OF OUR OTHER HEDGING BROKERS. NO ONE WILL PRESSURE YOU AND WHAT HAVE YOU GOT TO LOSE? I'VE BEEN A LICENSED FUTURES BROKER FOR 41 YEARS AND TRUST NO ONE MORE THAN TED AND HIS GROUP

 

Higher closes for Minneapolis,Kansas City and Chicago wheat along with corn, rough rice, soybeans, and soybean meal while lower for soybean oil. The action lately continues to act like the grain complex has been oversold, at least for now. The monthly grain report leaned toward the bearish side but the grain complex, so far, has basically ignored it as evidenced by the charts below. Of course, this complex is and has been in a long term downtrend and any buy signals would have to be considered short term until proven otherwise. Part of the problem is that it seems the bears are 'loaded up' with little ammunition left leaving a vacuum above not to mention not a lot of resistance nearby. So, be careful of what you do and don't invest too heavily in either direction at this time. The wheat complex settled higher making their best closes since the middle of September for KC and Chicago wheat. The wheat complex charts suggest at least a short term bottom is in place with Minneapolis having its nearest resistance around 615 and in a possible BULL FLAG. This suggests room to retrace higher which could be a good opportunity to start hedging the next crop year. Meanwhile, I'm removing my sell signals separately only if each of the wheat takes out and closes above last week's highs. KC really has little resistance up to at least the 620 area and, like Minneapolis and Chicago (next resistance above 640), could have a nice rally. Oats settled higher still in good resistance stalling out over the last week. Holding 320 was important in my opinion but I still prefer to remain on the sidelines. Rice also settled higher and while still in a downtrend overall, could be forming a possible bottom but it remains in a sideways trading range since around the middle of September. A close over 1300 could reverse its downtrend trend. Corn had its best high and close since the beginning of September which included ending up above the 350 psychological area. Strong looking resistance remains from 360 up to around 375. Every farmer that reads my comments should call me about hedging concerns so I can place them with one of our qualified hedging brokers. You should always be thinking ahead. Since everybody knows the government is looking at record crops and yields and corn storage remains a factor. Our hedge department says many farmers have been holding on to corn from the previous year(s) leaving little room for storage whereby farmers would be forced to sell a large part of their crops in the near term. The beans and meal settled higher while oil lower this time. Their prices remain high historically meaning this complex has room to fall much lower in the end but does act oversold at this moment. .Don't forget a large percentage of last year's bean crop is still in South America with another season coming. The July15/Dec15 meal/oil spreads continue to trade around even money which could mean the beans may not be done yet. Oil closed down, and while still bearish, has showed some bottoming signs or at least it's in a consolidation mode. However, that possible bottoming action could be slowly fading away. SELL SIGNALS FOR MINNEAPOLIS, KANSAS CITY AND CHICAGO WHEAT ALONG WITH CORN, ROUGH RICE SOYBEANS, SOYBEAN MEAL AND SOYBEAN OIL. CALL FOR DETAILS.  For additional charts, quotes, news, commentary & more sign-up for a FREE 30-day trial to Market head.Com.

 

 

 

 

 

 

 

 

 

 

 


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