June 28, 2024

CORN CRASH ACCELERATING –

BIGGEST DOWN DAY IN A YEAR,

WITH SOYBEANS RIGHT BEHIND…

Ahead of today’s USDA crop report, due to the continuing slide we’ve been seeing in Corn and Soybean prices, and with the markets having been down so many days consecutively, I was seeing all sorts of commentary suggesting that (paraphrasing): “Sentiment has gotten too negative…and even a bearish report will probably uncover a lot of buying,” or that (paraphrasing) “No matter what the report says, Corn and Soybeans will probably rally from here, if not today, then next week,”…Also that (direct quote) “Analysts speculated that grains had little room left to drop.”

AS I HAVE REPEATEDLY STATED, CORN AND SOYBEANS ARE IN EXTENDED BEAR MARKETS, AND WITH BOTH OF THEM FAIRLY BEGINNING TO GET SLAMMED, THE SUPPOSED “EXPERTS”, WHO HAVE BEEN BULLISH FOR TWO BEARISH YEARS,  ARE STILL TALKING UP “THE NEXT RALLY,” OR THE POTENTIAL FOR “A BOTTOM”, WHEN THE FACT IS (IN MY OPINION) THAT THE LOWS ARE STILL A LONG, LONG WAY FROM HERE.

I CONTINUE TO RECOMMEND BEING SHORT BOTH CORN AND SOYBEANS…RIGHT HERE. RIGHT NOW.

 NEW TWO YEAR LOWS TODAY…

 NEW TWO YEAR LOWS TODAY

With both markets making new lows AGAIN…and money “evaporating” from farmers’ bins, my guess is that some increased degree of FEAR is definitely setting in…and NEXT WEEK COULD BE THE ONE WHERE FARMERS TRULY START PULLING THE PLUG…AND SELLING…RIGHT THROUGH FROM MONDAY ALL THE WAY INTO NEXT WEEKEND.

I hate to see some of you guys missing this…And I absolutely thing it IS just getting started on the 2-6 week summer collapse that has been so common for both markets for so many years…So if you SEE my case, and are thinking, “Maybe I ought to do something with it,” STOP JUST WATCHING THIS HAPPEN and call me.

And if you’re already on it, I see this most recent action as a potential further confirmation that the downdraft IS underway…so think seriously about adding…here and now…

Pick up the damn phone and GET ON THIS with me…

Thanks,

Bill

770-425-7241

866-578-1001

All option prices in this newsletter include all fees and commissions. All charts, unless otherwise noted, are by Aspen Graphics and CRB.

The author of this piece currently trades for his own account and has a financial interest in the following derivative products mentioned within: Corn, Soybeans