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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Posted on 5/23/2019 1:55:11 PM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

 


Posted on 5/23/2019 5:51:08 AM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

 


WORST DELAY IN CORN PLANTINGS IN HISTORY AS WE KNOW IT BUT B E CAREFUL!

Posted on 5/22/2019 7:05:43 AM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.




Higher closes for Chicago wheat, rough rice, oats and corn while lower for Minneapolis and Kansas City wheat along soybeans, soybean meal and soybean oil. YES, CORN IS FARTHER BEHIND IN PLANTING THAN AT ANY OTHER TIME IN HISTORY BUT AS PRICES RISE, MANY FARMERS WILL CONSIDER TAKING A CHANCE AND PLANT CORN ANYWAY BECAUSE OF THE HIGHER PRICES CORN WILL BRING. HEDGING PROPERLY, AS ALWAYS, WILL PROBABLY BE THE KEY. SO BE CAREFUL OF WHAT THE LARGER BEAN AND LOWER CORN ESTIMATES WILL BE. Minneapolis and KC are now in resistance areas after rallying nicely off the wet weather news. If you are long I would lighten up and my sell signals are still in play anyway. However, Chicago, at least for now, has given me a BUY SIGNAL with little or no resistance up to 515. On the other hand Minneapolis needs to close over 600 and KC 480 for me to have possible buy signals. Oats made a new CONTRACT HIGH AND CLOSE continuing its uptrend with the closest support below 295. Rough rice had its best high and close since late March but is forming a possible very large bottom that needs to be watched. Taking out its last high of 1137 should be very significant in my estimation. Corn has exploded around 60 cents over the last seven trading sessions off the wet weather and delayed planting culminating in its highest high since December while now in a heavy resistance area. Of course corn is now pushing against four dollars which is significant technically and psychologically. I still want to see a close above four dollars before I consider a buy signal for the longer term.Don't forget about the GAP at 357 1/4 that has the strong probability of being filled soon or later. The bean complex has had a modest boast thanks to the corn and wheat rally but the underlying feeling of more beans and less corn being planted because of the wet weather has been a drag on this complex as expected. However, I want to see beans close over 950, meal 320 and oil 30. BUY SIGNALS FOR CHICAGO WHEAT. ROUGH RICE AND OATS. SELL SIGNALS FOR SOYBEANS, SOYBEAN MEAL, SOYBEAN OIL, MINNEAPOLIS, KANSAS CITY AND CHICAGO WHEAT. For additional charts, quotes, news, commentary & more, sign up for a FREE 30 day trial to markethead.com.


WORST DELAY IN CORN PLANTINGS IN HISTORY AS WE KNOW IT BUT B E CAREFUL!

Posted on 5/22/2019 7:05:37 AM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.




Higher closes for Chicago wheat, rough rice, oats and corn while lower for Minneapolis and Kansas City wheat along soybeans, soybean meal and soybean oil. YES, CORN IS FARTHER BEHIND IN PLANTING THAN AT ANY OTHER TIME IN HISTORY BUT AS PRICES RISE, MANY FARMERS WILL CONSIDER TAKING A CHANCE AND PLANT CORN ANYWAY BECAUSE OF THE HIGHER PRICES CORN WILL BRING. HEDGING PROPERLY, AS ALWAYS, WILL PROBABLY BE THE KEY. SO BE CAREFUL OF WHAT THE LARGER BEAN AND LOWER CORN ESTIMATES WILL BE. Minneapolis and KC are now in resistance areas after rallying nicely off the wet weather news. If you are long I would lighten up and my sell signals are still in play anyway. However, Chicago, at least for now, has given me a BUY SIGNAL with little or no resistance up to 515. On the other hand Minneapolis needs to close over 600 and KC 480 for me to have possible buy signals. Oats made a new CONTRACT HIGH AND CLOSE continuing its uptrend with the closest support below 295. Rough rice had its best high and close since late March but is forming a possible very large bottom that needs to be watched. Taking out its last high of 1137 should be very significant in my estimation. Corn has exploded around 60 cents over the last seven trading sessions off the wet weather and delayed planting culminating in its highest high since December while now in a heavy resistance area. Of course corn is now pushing against four dollars which is significant technically and psychologically. I still want to see a close above four dollars before I consider a buy signal for the longer term.Don't forget about the GAP at 357 1/4 that has the strong probability of being filled soon or later. The bean complex has had a modest boast thanks to the corn and wheat rally but the underlying feeling of more beans and less corn being planted because of the wet weather has been a drag on this complex as expected. However, I want to see beans close over 950, meal 320 and oil 30. BUY SIGNALS FOR CHICAGO WHEAT. ROUGH RICE AND OATS. SELL SIGNALS FOR SOYBEANS, SOYBEAN MEAL, SOYBEAN OIL, MINNEAPOLIS, KANSAS CITY AND CHICAGO WHEAT. For additional charts, quotes, news, commentary & more, sign up for a FREE 30 day trial to markethead.com.


Posted on 5/21/2019 2:28:45 PM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

 


Posted on 5/21/2019 2:28:29 PM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

 


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