Tuesday the 14th Last Trading Day July Grain Contracts
Wed. 15th NOPA Crush Number
USDA report imho pretty uneventful. BUT weather ruled the trade Friday with maps adding more rain less heat.
China booked 2nd largest single day US Corn purchases on record.
Market still followed weather maps. I talked about market action last week.
BIG support numbers for Dec. Corn is now around 341.50-339. A must hold that line trade. BIG resistance numbers 363.50-375. First level will be 353.50.
Nov. Beans resistance was found at the 200 day moving avg. We now look at support 884-881 and then 874-872.
Cattle show gains for the week but looks like some resistance about $2-$3.50 higher for Aug. Oct. cattle res: about $2.70 higher. Then I would look for a pull back about $5.
Let’s be Happy. Baseball July 23rd.