Skip to main content

New Monday Wheat Recommendation: We’re using Fibonacci retracement theory to set targets in KC May wheat for advancing old crop sales. Regardless of class, advance old crop cash sales another 10%, to 75% sold, when KC May hits its 50% retracement objective of $8.41. Set a target at a 62% retracement to $8.58 in KC May to advance sales another 10%, to 85% sold. Opening calls are for the grains to start steady as traders sort out cues from crude oil and outside financial markets. In the Headlines Geopolitical tensions are heightened further following Vladimir Putin’s visits to Crimea and Ukraine’s occupied city of Mariupol and ahead of Putin hosting Chinese President Xi Jinping in Russia this week. China is attempting to support plans that would negotiate a ceasefire in Ukraine while locking in new territory for Russia. Complicating the matter for China was the Friday announcement of an arrest warrant issued for Putin by the International Criminal Court for war crimes. European markets will be even more important than usual for setting the Sunday night market tone, since more turmoil with Credit Suisse and other European banks will have to be addressed on Monday. Several regional U.S. banks are…

This content is for members only.
Log In Register

Sign Up For The Commstock Report

Sign Up Now to Improve Your Marketing and Protect Your Profits


Already a Subscriber?
Sign In