Market Analyst for CHS Hedging, Inc., a subsidiary of CHS, Inc. Specialize in trading Grain and Livestock futures and options.
Next line of resistance on March #corn at $6.57. Corrective high from 11/16 and 38.2% retrace of 8/30-12/15 drop
Snow cover in the US. This week top, last week bottom. No additional snow forecast next 6-10 days. #MDA #EarthSat
Monthly active continuation of #soy meal. 2/2011-12/2011 decline has traced 61.8% of the 6/2009-3/2010 decline.
Dollar Index showing potential for bearish divergence in momentum from a daily. Trade below 77.96 would confirm
Snow cover across the US. #MDA #EarthSat
MPLS #Wheat continues to show very little interest in trading below $8.00/02, 50% retrace of 6/2010-6/2011 rally.
Latest 6-10 European Model of SA. Looks wetter in most of Brazi but drier in Argentina. #MDA #EarthSat #soybeans
March #corn showing strong potential for bullish divergence in momentum. Need trade above $6.16 to confirm.
June Live #Cattle/Lean #Hog spread rallied back sharply last week. Above 50/100/200 day MA. Near contract highs.
Weekend Precip (left) and Precip % of Normal-Past 45 days South America. MDA EarthSat weather. #corn #soybeans
Past 45 days % of normal precip South America. MDA EarthSat Weather. #soybeans #corn
Daily close only chart of March #corn. Nearing 50% of the length of 8/30-10/4 decline at $5.77 3/4. Watch momentum
Jan #feeders showing an almost text book bullish divergence in momentum. Supportive for tomorrow's COF report...
Feb Lean Hogs still in downtrend on all scales. Possible support near 85.35 which is 100% of 10/18-11/9 decline
Weekly active contin. #LC failed at 138.2% of Wave 1 near 125.775. Close below 117.95 confirms bearish divergence
60min of $CH12. Possibly completed 5-wave move lower. Came within 1c of 100% of wave i and bullish diverg in mo.
March #corn showing potential bullish divergence in momentum, but need trade above $6.16 to confirm.
#ESZ11 hit 50% of the length of the 10/4-10/27 rally and appears to be putting in a bearish divergence in momentum
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