Agricultural

Mid-Week Grain Update w/Tony Cholly – 07/22/2020

Posted 07/22/2020 11:16AM CTTony Cholly

Corn: China demand is limiting the downside in corn, as well as running into support, but weather throughout the rest of July seems to be favorable, at least for now. Watch for continued choppy trade the rest of this week until we have a more solid fundamental reason to trade more directionally.

Soybeans: Soybeans seem to be stuck in a technical trade. Ranging between the top end and bottom end of this trend channel, while grinding higher in the meantime. I expect good weather news to push us back to the bottom end until we hear more demand news or weather fears. There can obviously be an up day during this grind back to the lower end of channel, but in general, I expect this level to be tested.

Corn Dec ’20 Daily Chart
Soybeans Nov ’20 Daily Chart

If you’d like to learn more about the agriculture markets, please request our exclusive 2020 Grain Futures Outlook. If you have any further questions or needs, please contact Tony Cholly at 1-800-826-2270 or email him at tcholly@rjofutures.com

Our 2020 Grain Outlook Includes:

– World Corn Outlook – Stock Change vs. Usage Ratio
– U.S. Soybean Export Sales and USDA Forecast
– U.S. Planted Wheat & World Wheat Production
 – And Much More!

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Tony Cholly

Senior Market Strategist
Tony majored in Economics at Eastern Illinois University. He performed his thesis on the market price of corn in the market and the factors that affect it. Tony was drawn to futures trading because of the opportunity to have financial gains in an economic environment. He prides himself on working with customers one-on-one and developing a trading strategy based on the client's needs and wants.
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