Hot Season for the Grain Markets + Support and Resistance Levels 6.08.2022 - Support & Resistance Levels

Support & Resistance Levels

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Hot Season for the Grain Markets + Support and Resistance Levels 6.08.2022

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Hot Season for the Grain Markets!

By John Thorpe
This time of year the Grain markets will be more susceptible to large price swings as a result of USDA reports most notably three and one other piece of information to round out the four things we need to pay attention to.
  •  Export Inspections released at 10:00am Central every Monday.   they look like this and can be found here
GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT
                 REPORTED IN WEEK ENDING JUN 02, 2022
                           — METRIC TONS —
————————————————————————-
                                                  CURRENT    PREVIOUS
             ———– WEEK ENDING ———- MARKET YEAR MARKET YEAR
 GRAIN     06/02/2022 05/26/2022 06/03/2021   TO DATE    TO DATE
BARLEY             0         73          0           0           0
CORN       1,434,683  1,411,734  1,426,845  43,733,073  52,608,324
FLAXSEED           0          0          0           0           0
MIXED              0          0          0           0           0
OATS               0          0          0           0           0
RYE                0          0          0           0           0
SORGHUM      207,953    144,690     65,550   6,328,772   6,271,629
SOYBEANS     350,416    403,617    239,384  49,852,901  56,907,092
SUNFLOWER          0          0          0       2,260         240
WHEAT        352,779    344,907    531,921     225,845     194,485
Total      2,345,831  2,305,021  2,263,700 100,142,851 115,981,770
————————————————————————-
CROP MARKETING YEARS BEGIN JUNE 1 FOR WHEAT, RYE, OATS, BARLEY AND
FLAXSEED; SEPTEMBER 1 FOR CORN, SORGHUM, SOYBEANS AND SUNFLOWER SEEDS.
INCLUDES WATERWAY SHIPMENTS TO CANADA.
And look like this Notice the large proportion of very poor to fair with harvest weeks away in many of these states
https://www.cannontrading.com/tools/futures-market/grains/Wheat-Futures
  • USDA Supply/Demand and WASDE released once a month, this week it will be Friday morning at 11:00 Central  you can find them here https://www.usda.gov/oce/commodity/wasde  and they look like this.

 

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06-08-2022

Futures Support and Resistance Levels 6.08.2022

 

 

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Posted in: Future Trading News   | Grain Futures  

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