Commodity IB - OIF MCIWS Marine - There is a significant risk of loss when trading futures - Nothing here is a recommendation or expresses views of StoneX
ON VETERANS DAY, THE EQUITY MARKET SHALL BE OPEN AND THE BOND MARKET SHALL BE CLOSED.
WHILST ON GOOD FRIDAY, THE EQUITY MARKET SHALL BE CLOSED AND THE BOND MARKET SHALL BE OPEN, BUT ONLY UNTIL NOON.
AND IN 2022, WE SHALL ADD JUNETEENTH CLOSING BOTH EQUITY AND BOND MARKETS.
Grains have spent very little time consolidating and very much time trending in 2026, which I suspect will continue, and today's report doesn't suit the trend into the numbers.
When you look at The Economist 2026 cover and at 10 o'clock it shows a vessel disguised as a freight ship firing at a cake which says 250 on it and then 11-12 o'clock is missiles.
@Grainmarket67 What is a flag anyway but a downward trending channel...
One month to pole, one month to flag; looks in tact to me. Goal post still where it was planted.
@Barchart Monthly continuous Yen developed massive Head & Shoulder top over last 20 years. In textbook fashion, it broke neckline and retested it in January of 2023. This month it broke out of descending wedge. The H&S pattern projects to 0.2626. It's going to get SIGNIFICANTLY worse.
@MSGCapital There was a large block in May, though not as large, with the exact same strikes in sep options at the time, bought for about the same price. Option expiration back then was 3 mos out, just as the Nov options are now. The block was done near the high.
Downside objective for July corn reached at 100% extension of 487'4 double top through 448'4 April low = 409'4. Lower support line from Aug 2024 to Aug 2025 converges there.