Daily numbers and hedge ideas for 12/12/18

Published on: 16:01PM Dec 13, 2018

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January 2018 Soybeans

9.29 1/2 FG near Bracket Line Resistance


-------------9.15 Pivot


8.94 FG

5 day chart... Up from last week same day

Daily Chart.. Sideways

Weekly chart Down

Monthly chart... Down

9.38 is the 200 DMA

ATR 14 Balanced 78%

For 12/12/18: Bracket Line Resists,

uptrend is key support for the bulls to keep



Grains: Funds bought 5,000 corn, and 6,000 soybean contracts, and sold 3,000 wheat on Tuesday.

Grains are firm tonight on light volume. Whatever the report said, it continues its firm tone. Price movement tells you there was nothing there to propel either camp to push the market in their favor. Upside is limited by current resistances, yet the bears seem powerless. Massive supplies are weighing on the bulls, hard to sell sand at the beach. SA is well underway, and since the price action does not show concern of a shortfall down there, does not bode well for the bulls. Our time is limited to export before SA is ready to sell its crop.

All fundamentals do is to justify staying in a losing position. After you read the report did it tell you how much reward you should seek (upside objective) and how much risk you might endure if the market goes down instead? That is what you need to know, and only the charts are helpful in discovering what the price could be in the future.

Most calls settled lower, taking out premium. The winners do not win and the losers get killed. Look at how cheap options are that expire next Friday. It tells you the market is going nowhere fast.

Charts remain the same and will offer more clues as the market adds more bars, for now corn and soybeans are closer to resistances, and wheat is wallowing in the lower bracket. I still recommend hedging or selling corn and soybeans against their bracket line resistance.

Next major report is the Final Report in January, and until then looks for more sideways action, and do not look for the next trend to start until at least that Final report is known.


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The markets covered daily are 2018 & 2019 Soybeans, Corn, and Wheat.

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