Gophervet @gophervet

After looking at wheat I messed with corn and I have never charted it this way. We roll to resistance, if we fail to close above we have the open gap at 3.31 in play, and by the chart do not take 2.80 off the table. This would be a major low where you want to buy years of feed

Hogs zoomed in view - can see the possible sell forming

Hogs do not spend much time above the midline and we are back below it now and testing from the backside. I suspect it holds and we trade in the range of 90-72. We failed to make a new high so 61 is on the table down the road

If you think corn is bad try being a wheat farmer. This thing is getting serious if they lose 4.90 there is nothing but air under this market

Feeders

Stripped down chart...I'll let you make your own conclusions 2.07-2.08 is major support. I have some pretty interesting thoughts longer term on grains and cattle just need to see where highs and lows come in at

On a larger picture beans are holding a trendline but the 10.69 area is major resistance. If we get closes above 10.69-10.75 area this market will go higher. In the past when it cannot get above resistance it sells to 8.65. It has done it 3x in last 15 yrs this would be the 4th

I thought 10.69 was going to be the number and we would go past the sell setup line. So far the trend line is holding so if you need to generate some cash sales now is the time to get it done. If you want to be bullish buy a call above 10.85 as that will be a breakout

Corn rolled to the Dec chart. We now have the roll gap in play and the gap down around 4.20. We are right around a resistance trend line as well. Could we fill the topside gap before going lower...Its possible but back under the trend line I think we work Dec Corn lower to gap

Macro News. Worthless Powell has given the verbage to lower Rates next month. He will go down as the worst chair. Waited 6-8 moths too long to raise rates. Should have dropped rates .25 pts 2 months ago to see how market responds. Doesn't matter what he does now he has lost

Weekend Cattle news: Cattle on Feed was as expected. Maybe 2% higher placements but within the 98% on feed that was expected. Screw worm is in the United States but brought in by a human traveler (reported Sunday night but happened Aug 4th). Box beef steady, Cash trade steady

Similar situation in Live Cattle. Next targets are much higher if the market doesn't hold here. Last week was an important week now we see how the month ends. Month end bullish number is 2.2477 and 2.3362. I really thought we would correct into october

I have only 1 target in feeder cattle that has not been met. Last week we hit the 2 that I thought were possible but had low probability of hitting.

As perdicted we filled the gap from last year and found support. Major resistance at 4.00 and can see the next 2 levels from the chart. 2020 gaps still in play at 3.31. Buy puts and make some cash need sales. Will be tough to rally much more until post harvest IMHO

Beans are the most straight forward market. We are coming into the zone I posted about months ago. A breakout will indicate a new move higher/New bull market. I suspect we run into resistance and this area will be were you want to make sales. Buy Jan puts and cover cash needs

I don't post about the SnP much although I spend a lot of time studying/trading it. We are into the relms of a correction. I would like to see us Bull flag into October to set up the next move higher. There may be more of a correction coming but I would like to see a backtest

Same number aplies to cattle 2.2602 is the weekly bullish number. Need a close above to keep the rally going. Usually when you have a miss like last week there is more of a pause. Lets see how friday closes. Is it a second miss or do we close above and signal another high

This is what I thinke we are doing in soybeans. If we break out to the upside it is very bullish but you can see the 3 imprtant retracement levels before we go lower

IMHO corn will take out the 3.60 low from last year and I believe it has it's eye on the 3.30 gap from 2020. Should trade lower today to complete wave lower

Beans have the most risk going into the report. We are grinding on suport. If it breaks we go to 8.65 to test major support. Just as easily can bounce here too. My bias is this is a 4th wave so a 5th lower to come. Good crop, no chinese buying, farmer undersold