December 3, 2012 Written by Chris Robinson Corn: March corn settled up 2 1/4 cents at 7.54 3/4 . CH posted its high at 7:30 AM but then leaked lower all day, breaking 15 cents from its highs. A 5 cent rally in the last 3 minutes...
Read MoreWheat, corn and beans leaking from earlier highs. The action is not very encouraging for the bulls. Either there is a lack of interest or just fatigue. Anytime the market gets bullish news and can’t hold a rally,...
Read MoreYes, Egypt tendered wheat from the US over the weekend. In general, US wheat was 20 to 40 bucks a ton cheaper than that available in the Black Sea. March Wheat Has been in a Range bounded by 845 on the bottom with resistance at...
Read MoreSo far, wheat, corn and beans are only up a nickle. Not a very powerful rally in the wake of announcement that Egypt bought US Wheat. What does this mean? I am not really sure. I would have thought we would have been 15 to 20...
Read MoreApparently 4-month low in US wheat and Friday’s ugly close brought out the value shoppers in Egypt. Seems like Egyptian politicians are just like any other politicians. They know what happens when their subjects...
Read MoreMarch corn down 6 1/2 : March wheat down 20: March beans down 9. We might have one more flush down next week in the grains. November is over. Last Friday of the month. Last trading day of the month. March corn 7.47 is 38%...
Read MoreToday I’d take profits on long positions in the grain and walk away for the weekend. In the last 2 weeks, corn and wheat rallied over 50 cents and beans rallied almost 90. We were just at 5 month lows in the beans and 4...
Read MoreWe’ve now bounced 600 points and we’ve breached the 13,000 psychological level. In my opinion, we well chop around this level for the next month. Day to day we may have volatility based on the play by play coverage...
Read MoreToday’s low in Dow Jones futures was 30 ticks below the 12,775 level. This was a test of the first Fibonacci retracement at 38%. 38 % of what? 38% of the rally from the November 16th low at 12,434 up to the high last...
Read MoreI don’t like the Dow again from a buyer’s position until we get back to 12,700 or 12,650.. We might just chop aimlessly here in a 600 pt trading range through Christmas. For now I’d be a comfortable seller of...
Read More
