The Canadian Technician

Food Commodities - TIme to buy Ag?

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Good Day,

Lets just briefly check the dashboards. All of the symbols for the charts are just farther out months on the futures. So each chart has the nearest month first, then progressing to the longer months.Usually a year out.

Here is Corn. Trading below the 10 week.

Corn

Soybeans - trading below the 10 week

Soybeans

 

Sugar - trading below 10 week

Sugar

Wheat - Trading below 10 week

Wheat

Goldman Sachs Commodity Index (GSCI) Agriculture trading below the 10 and 40 week.

As an aside, anything purple on any of my charts is SPURS (My Acronym) - SP 500 relative strength. Usually it would appear either behind the RSI or  behind the price chart or usually both on my daily charts. On this chart it is just behind the RSI as an area chart.

$GKX

Viterra - trading below the 10 week / 40 week.

VT

Potash Corp - trading below the 10 Week / 40 Week

Potash

Agrium Trading above 10 week , below the 40 week.

Agrium

Here is one segment of Agriculture going higher... Livestock.

$GVX

OK. Everything is still below the 10 week except livestock and Agrium. Let's keep watching, but it's not here yet! Let's hunt elsewhere for opportunities.

There are just so many interesting charts to share...I'll try to share more dashboards this week.Everything is at resistance, trying to stay above support. Interesting times! Feel free to comment, as I enjoy getting positive feedback and other thoughts. One of the comments on the crude discussion was a rising wedge which I failed to mention...thanks to all who take the time to dialogue.

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The Canadian Technician

Good Trading,

 

Greg Schnell, CMT

 

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More
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