Heather MacLeod

New crop corn S/U dropped to 10.12% 🌽 Down from 11.00% last month and noticeably tighter than old crops 11.68% Usually to get corn much above $5.00 we need to see that stocks to use drop below 10% If this number starts to creep below 10%.. those are the years associated with +$5.00 corn I attached the last several years stocks to use along with the highest price of the year for reference. *** Struggle knowing when it’s a good time to take risk off the table in grain marketing? Try our updates & signals free 👉 dailymarketminute.com/freetr…

Phenomenal close in July corn 🌽 One of the biggest daily gains of the year Took back nearly half of the 7 day sell off in one day Engulfing the past 4 days candles Back above that trendline Dead cat bounce or something bigger..? 🤔 Mid-June looks very hot..

Grains lower across the board as soybeans lead the way lower giving back all of Fridays gains despite seeing a record NOPA crush number today. The choppy sideways trade continues. It looks like the grains are going to be unable to sustain a trend higher or lower short term. It appears that rallies will find sellers and sell offs will find buyers. For example, we rallied Friday only to sell off today. The big news over the weekend was the war going on in the middle east. As Iran attacked Israel but was unsuccessful, as over 99% of the missiles were shot down by Israel and US defenses. Israel responded this afternoon saying that they will forcefully retaliate. What does this mean for the grains? Unlike the war between Ukraine and Russia, a war in the middle east is not directly supportive for grains. It could be supportive for crude oil, and if crude oil goes sky rocketing higher perhaps some of that strength leaks over into the grains. But no, overall this is not directly friendly for the grains. US weather is going be the biggest market factor going forward heading into planting and growing season. We got a lot of planting done over the weekend. Corn planting is a tad slower than was expected but still faster than usual coming in at 6% complete. Soybeans on the other hand are off to a fast start. It is only 3% complete but that is a pretty fast starting pace for beans. The warm weekend got many states off to a quick start but we are expected to see some rains the next week which could slow things down slightly for a few days. However, after these rains it does look to dry out so that should offer a decent planting window. So there doesn’t look to be any real problems with getting the crop in the ground. Many are expecting planting progress to soar the next 2 weeks. If planting progress starts to move fast, the market would take it as a negative sign short term. Looking short term, this market could still face some pressure. The funds are still incredibly short. They are short -250k corn, -140k beans, and -85k wheat. Short term they are not in a real rush to cover these until we get past the end of the month. There is no compelling reason yet as long as planting is smooth. We will be having all of these May basis contracts expiring at the end of the month as well, which could lead to some additional farmer selling. Similar to what we saw to end February with the March contracts….. Read the rest of today’s update where we go over basis contract recommendations, planting & more Read Here 👉 txt.so/jmW2Zm

USDA continued to do its job of manipulating the markets with the big headline being “yield increase”. What I mean by this does not mean that their numbers are wrong or right.. but what I did not like about the report was the headline they essentially gave this report. Which was this unforeseen massive increase to corn yield. But what we really didn’t see was the actual production increase nearly as much. So they dropped the harvest acres in both corn and soybeans, yet they raised the yield. They have done this the past few years and what this basically does is make the yield look better than it was. This is done to get the algos and funds to price the market like they want to. So I didn’t really like that. Overall yes it was still a bearish report no doubt. It’s just that they made the headline look a little more bearish than the numbers actually were because they decreased the harvested acres so they could increase the yield. So when the funds are looking at it and see a yield increase of 174.9 to 177.3 on corn but our production only increased a little over a 100 million bushels. So the way they did it was a manipulation towards the headline news. I feel like that is in attempt to try to control prices. Same with soybeans we go from 49.9 to 50.6 but we only actually increased our production by 31 million bushels. Those numbers are bearish but 100 million bushels on a 15 billion bushel crop is not that big of a change. I think the reason they did it is because it allows them to keep bumping this trendline yield up. Which is a way they try to control prices in the future. Always starting off way to high, and this allows them to start off high again next year. If they would’ve just left the harvested acres alone and switched the yields fractionally it’s different…. Listen to today’s full report breakdown where we go over the entire report. Some things bulls need to see to stop the bleeding and making sales that make sense. Listen Here 🎧👉 txt.so/kxu3zM Become a price maker and make this the year you beat Big Ag at their own game. Try for free dailymarketminute.com/freetr…