| Period | Period Low | Period High | Performance | |
|---|---|---|---|---|
| 1-Month | 291-4 +12.61% on 05/02/23 | | 352-6 -6.95% on 04/19/23 | -7-4 (-2.23%) since 04/12/23 |
| 3-Month | 291-4 +12.61% on 05/02/23 | | 385-6 -14.91% on 03/29/23 | -44-2 (-11.88%) since 02/10/23 |
| 52-Week | 291-4 +12.61% on 05/02/23 | | 625-4 -47.52% on 06/09/22 | -260-4 (-44.25%) since 05/12/22 |
Wheat futures dropped sharply out of the Memorial Day weekend, with July SRW sub-$6 at the close for the first time since April 2021. The other front month SRW prices were 3% to 3.8% lower at the close....
Soybean futures fell 2.6% to 3.3% on the first trade day following Memorial Day. That pulled the July contract to below $13/bu for the first time since Dec 2021. Soymeal prices were 2.4% lower with $9.30...
After dropping sharply to start the week, corn futures found afternoon buying interest and rallied back about halfway. The July contract ended with a dime loss, while Dec closed 9 1/4 cents lower after...
Grain futures had a strong rally last week but were unable to find any follow-through in today's trade.
Potential Patterns Forming
The midday wheat market is trading sharply lower, with some contracts exploring new lows for the move. Chicago wheat prices are down 3.2% to 3.7% so far, with July sub-$6 for the first time since April...
Soybeans are down by 27 to 33 cents with losses of as much as 2.7% to start the short week. That has futures printing new lows for the move, with November contracts working at levels not seen since November...
The corn market is down by as much as 3% through Tuesday’s midday amid broad selling of energy instruments and grains in general. Chinese corn futures are also down about 7% for the year and their imports...
We kickoff the day with S&P/Case-Shiller Home Price MoM & YoY, House Price Index MoM & YoY, and House Price Index at 8:00 A.M., CB Consumer Confidence at 9:00 A.M., Dallas Fed Manufacturing Index at 9:30...
The grain markets were able to stage an impressive rally last week on the back of hot and dry forecasts into a long weekend.
The Barchart Trading Guide is a Sell Signal with a Weak Signal Strength.
| Symbol | Last | Change |
|---|---|---|
| ZOK23 | 328-2s | unch |
| Oats May '23 | ||
| ZON23 | 346-0s | +2-4 |
| Oats | ||
| ZCN23 | 594-0s | -10-0 |
| Corn | ||
| ZSN23 | 1296-4s | -40-6 |
| Soybean | ||
| ZMN23 | 392.6s | -9.6 |
| Soybean Meal | ||
| ZLN23 | 46.20s | -2.62 |
| Soybean Oil | ||
| ZWN23 | 591-0s | -25-0 |
| Wheat | ||
| KEN23 | 783-6s | -35-4 |
| Hard Red Wheat | ||
| MWN23 | 793-0s | -25-0 |
| Spring Wheat | ||
| ZRU23 | 14.525s | -0.195 |
| Rough Rice | ||
| RSX23 | 628.10s | -25.80 |
| Canola | ||
| 3rd Resistance Point | 328-2 |
| 2nd Resistance Point | 328-2 |
| 1st Resistance Point | 328-2 |
| Last Price | 328-2s |
| 1st Support Level | 328-2 |
| 2nd Support Level | 328-2 |
| 3rd Support Level | 328-2 |
| 52-Week High | 625-4 |
| Fibonacci 61.8% | 497-7 |
| Fibonacci 50% | 458-4 |
| Fibonacci 38.2% | 419-1 |
| Last Price | 328-2s |
| 52-Week Low | 291-4 |
