Kent Beadle, Paradigm Futures, says grains are extending gains from Tuesday still digesting the bullish USDA report data for corn and even wheat. Watch the full conversation and analysis from today’s AgWeb interview.
Key Takeaways from the Interview
Corn
The grain markets are extending their gains from Tuesday, particularly after the bullish USDA report which adjusted corn ending stocks down by 200 million bushels and wheat by 20 million bushels. March corn is currently testing chart resistance, aligning with the October high and the 200-day moving average. Beadle suggests that corn might have enough momentum to close above these levels, though perhaps not today.
Soybeans
There’s some spillover support from the increases in corn and wheat prices. The USDA’s decision to maintain soybean ending stocks at 470 million bushels has kept the market stable. Beadle notes that soybeans might hold around the $10 level until the South American crop is harvested, given some areas are experiencing dry conditions, and in light of potential tariff changes post-January 20.
Livestock
Cattle futures initially dipped but saw quick buying interest following steady to higher cash trades at $191 in the South. The market is now pushing against chart resistance at the November highs. Hogs experienced a downturn from producer hedge selling, there’s a rebound as funds are seen buying on price dips.
Talk to Us
Contact our Commodity Brokers for expert guidance on navigating the changes in the market and developing tailored strategies for your trade and investment goals.
Full Disclaimer
The risk of loss in trading futures and/or options is substantial, and each investor and/or trader must consider whether this is a suitable investment. Past performance is not indicative of future results. Trading advice is based on information taken from trades, statistical services, and other sources that Paradigm Futures believes to be reliable. We do not guarantee that such information is accurate or complete, and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice given will result in profitable trades.
