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Weekly Summary & Recommendations for Corn, Soybeans & Wheat 02/23/2022

USDA announced this morning 132,000 mts of new crop soybeans were sold to China Note: RSI = Relative Strength Index; 70+ is over bought


 

Corn

Corn Situation after the close 22 February 2022 Even though we expected old crop futures to exceed $7, we recommended pricing 2021 corn when nearby futures were $6.24 to eliminate risk and prepare to buy puts when high is made this spring or early summer to make the money on the way down not made on the way up. December corn settled at $6.05¾ Price Change Tuesday to Tuesday: up 16 cents 20-month high $6.06¼ made 22 February 2022 20-month low $3.68¾ made June 26, 2020 20-month range is $2.37¼

Yesterday’s closing price is: ½ of a cent below the 20 month high $2.36¾ above the 20-month low USDA's 2020 crop carryout in terms of days’ use: US: 30, world: 94 USDA's 2021 crop carryout in terms of days’ use: US: 38, world: 92

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