Grains & Softs

And some folks say - quote -
The USDA, in their monthly supply/demand report this week, continued to increase their demand projections for corn. Corn used for ethanol production (from last month) was increased by 50 million bushels and industrial use of corn (likely for corn syrup) was increased by 20 million bushels. Projected demand for feed use and for exports was left unchanged. The resulting decline in projected ending corn stocks to 675 million bushels is approaching pipeline minimum and represents about 2 ½ weeks' worth of supply. With demand for corn still rising, prices need to move higher to sharply higher in order to ration tight supplies or to slow down consumption. - end quote.

And romour mill says China is about go on an all time short squeeze and will own every bushel of corn in the world.

really - mmmmm - fundamentals, fundamentals, fundamentals.

A techies says the trend is up - no reason required!!
 
any of you cats get short Soybeans or Wheat today or yesterday? I missed 2 huge legs down on both of them yesterday!!! should have held them a little more but exited too quick...
 
Quote from schizo:

I've been trading various grains and softs lately with mixed results. As a noob, I would like to start a discussion dedicated to these two ag products. The ones that I'm closely following are

Grains:

Wheat (ZW)
Corn (ZC)

Softs:

Cotton (CT)
Cocoa (CC)
Coffee (KC)
Sugar (SB)
More...

shiiiizoooo.

don't forget to add milk, butter, and cheese in your list.
 
Dudes, chill. :D

For those who discounted the wonders of TA, I can only say you're completely missing out on the BIG picture. I bet ya never thought we would have sold off so hard...time and time again.

Be that as it may, what was the catalyst for today's selloff?

Quote from Shagi:

really - mmmmm - fundamentals, fundamentals, fundamentals.

A techies says the trend is up - no reason required!!
More...
 
Quote from emg:

shiiiizoooo.

don't forget to add milk, butter, and cheese in your list.
More...

In the future, I definitely do want to expand my trading horizon to include meats and dairies. But for now, I have my hands full.

You're welcome to add your comments as well as charts about these food groups.
 
Quote from schizo:

Dudes, chill. :D

For those who discounted the wonders of TA, I can only say you're completely missing out on the BIG picture. I bet ya never thought we would have sold off so hard...time and time again.

Be that as it may, what was the catalyst for today's selloff?
More...

I don’t think is has much to do with fundamentals, except the fundamental of panic. The supply situation hasn't changed.
 
The fundamentals for beans have changed siginificantly over the past several weeks. Chinese demand for beans has shifted to S.A., this has become apparent from the weekly sales or lack thereof. Should also be obvious from old crop/new crop spreads falling apart. This combined with record long position by funds has changed the picture, demand led rally over the past eight months at a standstill/rolling over with market extremely long.

Weakness in beans spilling over to corn, with new crop beans dropping, $6 new crop corn should attract a large increase in acres, funds also long record levels of corn. Not good. All this at historically high prices.

Regards, local
 
Being a pure techie, I can only speak from the technical point of view. Grains is in sad shape across the board. Beans in particular is beyond repair. It's premature to conclude, however, that the bull market is over but it doesn't appear that the selloff will be over in a day or two, as it was the case in the past.

Softs, with the exception of Sugar, have all been exhibiting monster strength as of late. Coffee and Cocoa are making new highs without any indication of letting up. But cotton looks vulnerable. Will keep an eye out for any short potential. Sugar, on the other hand, looks like it's basing. Short-squeeze might materialize within the next few days IMO.
 
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