Shore Capital ​Research LLC
  • Home
  • Us
    • Us
    • Mark Shore Background
    • Contact Us
    • Community
  • Research
    • Research
    • Mkt Notes
    • VSTOXX Articles
    • VIX Articles
    • Most Read Articles
    • Skewing Your Diversification (The Show)
    • Data Center
  • In The Press
  • Links/Books
  • Events
  • Properties
    • Parking Spaces for Sale or Rent
    • Condos for Sale or Rent

Grains

4/3/2009

0 Comments

 

As we discussed earlier this week of receiving short signals over the past week in wheat, soybeans and on Monday in the corn market. Tuesday may have caused at least a short term bottom to form in the grain markets as the USDA released their planting and stock report. The report proved to be very bullish for soybeans and some what bullish for corn and wheat. But in recent weeks it seems to be a common story for many commodities including crude and copper to rally. As many commodities are quoted in dollars, the dollar index peaked on March 4th and had a recent leg down since March 30th.

The USDA report was released at 8:30 am on Tuesday. When the grain markets opened at 10:30 am all of the grain markets opened strong. Corn (basis the May contract) then quickly sold off to $3.8125 after which it immediately turned around and later that day we received a long signal. Support for May corn is in the range of $3.88 to $3.94. Corn has reached its initial resistance level of $4.04. If the market continues to rally, the next level of resistance would be $4.17. With another level at $4.35 to $4.65.

On March 27th soybeans (basis the May contract) gave a sell signal. After bottoming on March 30th, the market gave a buy signal on April 2nd. In a matter of a few days, the market rallied about $1. The market may be getting a little tired as its reaching prices that have not been seen since early February. The market may find resistance between $9.85 to $10.13 as it settled today at $9.955. If it should rally above this level we could be looking for a price objective of initially $10.60 and then onto $11.30 to $11.40.

In an earlier posting we reported receiving a sell signal in wheat (basis May) on March 24. The market then spent several days testing lows made on March 3rd. On April 2nd we received a buy signal. As wheat settled today at $5.6350, it may be nearing the first level of resistance of $5.71 to $5.86 and possibly $5.95. If the rally continues, the next level of resistance would be $6.19 and possibly pushing to the $6.45 to $6.73.


0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    The postings on this site are not recommendations for trades and should not be perceived as such. Losses may occur from trading futures and options. Please talk to your financial advisor before trading futures or options. Past performance is no guarantee of future results.

    Proposals for consulting projects may be sent to [email protected]

    Follow @shorecap

    Archives

    January 2018
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    March 2017
    January 2017
    December 2016
    November 2016
    October 2016
    August 2016
    July 2016
    June 2016
    May 2016
    March 2016
    January 2016
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    September 2011
    August 2011
    July 2011
    April 2011
    March 2011
    February 2011
    January 2011
    December 2010
    October 2010
    September 2010
    August 2010
    June 2010
    May 2010
    April 2010
    March 2010
    February 2010
    January 2010
    December 2009
    September 2009
    August 2009
    July 2009
    June 2009
    May 2009
    April 2009
    March 2009

    Categories

    All
    All
    Asset Allocation
    BTFD.TV
    Commodities
    Community
    Cyber Security
    Due Diligence
    Economic Stats
    Education
    Energy
    Equity
    Events
    Exchange News
    Fintech
    Forex
    Grains
    Hedge Funds
    Managed Futures
    Market Comments
    Metals
    Most Read Articles
    Options
    Other
    P2P Lending
    Portfolio Management
    Press
    Regulation
    Restoring Customer Confidence
    Risk Management
    Skewing Your Diversification (the Show)
    Trading Strategies
    Video
    Vix
    Vstoxx


    RSS Feed

Powered by Create your own unique website with customizable templates.
Photos from dolbinator1000, *PaysImaginaire*, igotphotos, Michele Dorsey Walfred, MojoBaer, Barney A Bishop, renaissancechambara, ShardsOfBlue, Will Merydith, seanmcmenemy, sadatshami, everydayphotos41, Lars Plougmann, ota_photos, Tony Webster, Images_of_Money, ota_photos, bobchin1941, InvestmentTotal.com, christine zenino, reynermedia, charliekwalker, troyjmorris, Michael_Prepelica, theglobalpanorama, Zak Greant, epSos.de, mikebaird, Will Merydith, net_efekt, Gamma Man, Mike Licht, NotionsCapital.com, Lars Plougmann, sully213, WalkingGeek, bgilliard, LendingMemo, orijinal, Visual Content, pfala, Monika Thorpe, CallMeWhatEver, Philip Taylor PT, Rising Damp, Jeff Kubina, Cyron, kees torn, kenteegardin, jeffedoe, One Way Stock, tea610, epSos.de, alexdecarvalho, Frederick Wildman and Sons, Ltd, Nonprofit empowering young women immigrants in NYC, Don Hankins, joiseyshowaa, woodleywonderworks, Skrewtape, firmatography, Christoph Scholz, Charles Haynes, AndreasPoike, Citizen 4474, epicharmus, PinkPersimon, ota_photos, michaeltk, 401(K) 2013, riptheskull, M. Dolly, Davide "Dodo" Oliva, Peter Ciro Photography, Rob Hurson, KimCarpenter NJ, Matt From London, Aardwolf6886, wuestenigel, investmentzen, Walter Rodriguez