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Cornfutures

Corn, the Weather Drives the RallyFollowing the disappointment of the failed talks between the United States and China about two weeks ago, grains, particularly corn and soybeans, have fallen. The corn price dropped to a new low of the year (Monday, May 13). Since that time, the corn has started a steep rise due to the known meteorological problems. If we take the chart of the futures contract delivery July, we can see how strong has been the rise over the last seven days, and that has led the price to break the trendline resistance of the bearish channel, within which corn was moving from July 2018. When these situations happen, when an external factor (in this case the climate, the heavy rains) influences so strongly the price of a commodity, the best thing to do is to wait for the effect ends, and for the price to start a "return" towards a normal value. Yes, because if we exclude the weather, the situation for corn (and all other grains) is not improved, on the contrary... This rally of the price is a real breath of fresh air for American corn farmers. The collapse of the price has brought to their knees many of them. The trade disputes have already caused a $6.3 billion loss to corn farmers in 2018, and 2019 could be even worse. It does not mean the rally has to stop right here. The forecast promises more rain the next ten days, and that will give new fuel to the strong bullish phase, but do keep in mind that the rallies, particularly short-covering rallies, can end just as abruptly as they began. So, I repeat, we have to be patient, wait for the climate effect ends, and only then will we be able to open bearish positions, taking advantage of a return of the price to a value more consistent with the moment we are living. A fundamental rule in trading is to never anticipate market entry. Remember that it is always better to take a small part of a big movement, rather than a large part of a little movement. So never be impatient to click on buy or sell.
CBOT:ZCN2019
by TradingwDavid
1
Corn Preparing to Turn?Corn has been decelerating for quite a few months now and is currently rejecting key resistance (monthly 200ema/200ma + monthly fibs) with a high-test. Price action seems to be hinting at a turn from here in the near future down to $302.00, the September '09 low that sent us into an enormous rally to form the '12 highest high. I'm watching for a rejection of this 09' level over the next year or two that should align with the bottom in wheat. I expect a HUGE rally following that bottom to retest $746.00 --- Checkout my website @ PatsTrades (link is on my profile page below my picture) for my analysis on other trades like this and subscribe to avoid missing out on ideas and entries. Thanks!!
QShort
by patrick186
Corn setting a base for up trendThe monthly cornusd chart looks like it is setting up a base for a new uptrend to begin. October '15 new resistance->support line at 3.502. Price has closed and held above this line for past 4 months. +DI up and ADX is rising though still below 0 TRIX divergin with price since 2014 with 3 points of focus Stoch coming off oversold and moving up Weekly 3.644 last key resistance->support with price currently sitting on it. Though below 20, +DI and ADX beginning to trend up. The TRIX near 0 but remains positive Daily In all 3 time frames, ADX and DMI are not that strong but positive. TRIX put in a sup->res line at 3.648. Price is currently spinning on this point and will be key to hold if price is to move higher from here.
OANDA:CORNUSD
by mxb1961
1
Corn Futures Breaking Year Long Resistance LevelI believe this is my first post about Corn Futures, so let's see how this goes! Daily charts so that corn futures are trading within a channel, with resistance being the 50 MA and the support line being the 200 MA and the price support level of 356. Corn Futures shot up today above both the 50 MA and the resistance portion of the channel in which they were trading. That price resistance level of 370 goes back into the start of 2016 and has carried with force except for last April when Corn Futures shot past it and ballooned up to 440. The reason I like using TA is that you can easily see the human nature of the markets. Being irrational beings, we influence markets without even thinking. Most of the TA that I do is based on the overlying assumption that it is a self fulfilling prophecy, where it matters only because other investors and traders think it matters. Regardless, there could be a play here. Am I suggesting that Corn Futures will rise into the 400s again? No. I have no idea where corn futures will go. I'm trying to give myself the best probability of being on the right side of the trend. The setup I would use to play this bullish trade would be to enter right above the 50 MA breakout. I would put my stop at 365.4, which is just below the 50 MA. To me, this makes sense because any move lower than that would discredit my bullish hypothesis. With the stop loss at 365.4 I would begin to take profits at the 390 level. This gives me a risk reward ratio of 3:1. All the best, RC
QLong
by BrandonBeylo
CORN, MONTHLY CHART, BUY, LONG-TERM INVESTMENT PLAN(11-DEC-2016)Long-Term Investment Opportunity: Corn price is trading down since year 2013 and the current price is near 8-year history low. It is good to buy at the MARKET CYCLE LOW and hold for long term. Here are few ways to accumulate your long term investment in Corn: 1. Buy now with little % as the price is already quite low 2. Buy with more % when the price further drop to 8-year history low level 3. Buy more % when price drop to 10-year history low
OANDA:CORNUSDLong
by YongLiang