The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Grain and Livestock Outlook
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By: Sean Lusk, AgWeb
Walsh Trading Commercial Hedging Service is dedicated to providing timely, relevant and quality information. Tim Hannagan, our Senior Grain Analyst provides a weekly Grain Report. Tim has been ranked the #1 grain analyst in the United States per Reuters and Bloomberg for his most accurate price predictions for soybeans and corn in the years 2011 and 2012. Additionally, Mike Bauer, our Senior Livestock Analyst and Ben DiCostanzo, our Senior Technical Analyst provide frequent insights into the Livestock market. Finally, Sean Lusk and John Weyer, Co-Directors of Walsh Commercial Hedging Services provide a variety of insights into the Grain markets.
Corn Maze: May Corn Futures by John Lunney
Mar 05, 2018
May Corn Futures
In the fall of 2017 I posted several bullish articles regarding corn futures and I have to say it took longer than I thought to get this most recent advance going. However, we have recently reached slightly higher than the first objective of 380. The volatility market did as expected bottom out early this year but did rise as much as anticipated. My observation of the market as of today I believe there is still more upside before the market eases a bit. This scenario is in tact as long as we stay above 380 ish. My overhead second tier objective comes at /- 400. There is an inflection point around 394 which could produce a pullback. It is still unclear to me whether the structure of the recent advance is of a impulsive nature. If the market does violate the 380 level it will have to hold above save level at 377. A close below here should follow through to 370. Please follow along with my in my attempt to stay one step ahead of the next move of this and other futures contracts. Please feel free to contact me at Walsh Trading to discuss my analysis and suggested strategies to take advantage of this scenario.
John Lunney
Senior Technical Analyst
#312-957-8108
jlunney@walshtrading.com
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