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Technical Analysis 21/07/2020

person

Author:

Consulting Agency

UkrAgroConsult

Wheat September 2020.

The wheat markets closed the first trading day of the new week with losses. The winter wheats were down the most with double digit losses. Chicago SRW wheat closed 8 1/2 to 12 3/4 cents lower in the front months. HRW wheat futures were down by as much as 13 3/4 cents at the close. MPLS HRS futures closed 5 to 6 1/4 cents lower. NASS reported winter wheat harvest was 74% complete as of July 19. The 5-yr average is 75% through week 29. Also in the weekly report, 91% of new crop spring wheat was headed, which is 3 ppts ahead of average. Spring wheat conditions were 68% good/ex, or a 372 on the Brugler500 index. That was up 3 points on the week, but still down 13 points from the initial ratings. Wheat exports from the week ending July 16 were 500,607 MT according to USDA’s Export Inspections report. That was down 24% wk/wk, but was 12% above exports from the same week last year. Half of the week’s exports were HRW, with soft white wheat accounting for 30%. USDA also added 68,515 MT of HRW wheat to past week’s reports. China was the top destination for the week’s shipments with 36.5% of the exported total. Taiwan issued a tender for 98,230 MT for U.S. wheat. Egypt issued an international wheat tender, with results expected tomorrow.

  • Sep 20 CBOT Wheat closed at $5.22, down 12 3/4 cents,
  • Sep 20 KCBT Wheat closed at $4.35, down 13 3/4 cents,
  • Sep 20 MGEX Wheat closed at $5.06 1/2, down 6 1/4 cents.

 

Pivot Points

Name

S3

S2

S1

Pivot Points

R1

R2

R3

Classic

518.74

519.37

519.74

520.37

520.74

521.37

521.74

Fibonacci

519.37

519.75

519.99

520.37

520.75

520.99

521.37

Camarilla

519.84

519.94

520.03

520.37

520.21

520.30

520.39

Woodie's

518.62

519.31

519.62

520.31

520.62

521.31

521.62

DeMark's

-

-

519.56

520.28

520.56

-

-

 

 

Technical Indicators

Name

Value

Action

RSI(14)

27.724

Sell

STOCH(9,6)

39.542

Sell

STOCHRSI(14)

60.929

Buy

MACD(12,26)

-3.600

Sell

ADX(14)

18.854

Neutral

Williams %R

-83.333

Oversold

CCI(14)

-66.3517

Sell

ATR(14)

2.4093

Less Volatility

Highs/Lows(14)

-1.3007

Sell

Ultimate Oscillator

34.248

Sell

ROC

-2.213

Sell

Bull/Bear Power(13)

-4.7820

Sell

Buy: 1

Sell: 8

Neutral: 1

Summary:STRONG SELL

 

 

Moving Averages

Period

Simple

Exponential

MA5

520.22
Sell

520.14
Sell

MA10

520.24
Sell

521.64
Sell

MA20

525.06
Sell

524.23
Sell

MA50

531.60
Sell

529.39
Sell

MA100

534.43
Sell

530.39
Sell

MA200

525.90
Sell

524.16
Sell

Buy: 0

Sell: 12

Summary:STRONG SELL

 

 

Corn September 2020

Front month corn futures settled lower on Monday with losses of 1 1/4 to 4 3/4 cents. Weekend rains across the Corn Belt pressured the market lower to begin the week. The weekly Crop Progress report from NASS showed 59% of corn silking, now ahead of the 5-year average. NASS also showed that 9% of the 2020/21 crop was in the dough stage, which is 2% ahead of normal. New crop corn conditions were steady at 376 on the Brugler500 index, trade was anticipating a slight deterioration. USDA’s Export Inspections report showed 1.149 MMT (45.25 mbu) of corn shipped on the week ending July 16. That more than double the same week last year and up 8.5 mbu wk/wk. Of the week’s shipments Mexico and Japan were the top two destinations, with 24% and 22% of the total respectively. China was the destination for 12% of the total, and shipments to South Korea made up 11%. The report showed 100% of the week’s sorghum exports were destined for China, with 71,965 MT shipped.

  • Sep 20 Corn closed at $3.28 1/4, down 4 3/4 cents,
  • Dec 20 Corn closed at $3.35 3/4, down 4 cents,
  • Mar 21 Corn closed at $3.46 1/4, down 3 1/2 cents,
  • May 21 Corn closed at $3.53 1/4, down 2 3/4 cents.

 

 

Pivot Points

Name

S3

S2

S1

Pivot Points

R1

R2

R3

Classic

325.38

325.63

325.88

326.13

326.38

326.63

326.88

Fibonacci

325.63

325.82

325.94

326.13

326.32

326.44

326.63

Camarilla

325.98

326.03

326.07

326.13

326.17

326.21

326.26

Woodie's

325.36

325.62

325.86

326.12

326.36

326.62

326.86

DeMark's

-

-

325.75

326.06

326.25

-

-

 

 

Technical Indicators

Name

Value

Action

RSI(14)

32.174

Sell

STOCH(9,6)

27.321

Sell

STOCHRSI(14)

48.696

Neutral

MACD(12,26)

-1.400

Sell

ADX(14)

71.934

Oversold

Williams %R

-86.546

Oversold

CCI(14)

-118.7301

Sell

ATR(14)

1.3807

Less Volatility

Highs/Lows(14)

-0.9614

Sell

Ultimate Oscillator

32.362

Sell

ROC

-1.289

Sell

Bull/Bear Power(13)

-3.0040

Sell

Buy: 0

Sell: 8

Neutral: 1

Summary:STRONG SELL

 

 

Moving Averages

Period

Simple

Exponential

MA5

326.42
Sell

326.53
Sell

MA10

327.34
Sell

327.28
Sell

MA20

328.79
Sell

328.47
Sell

MA50

331.09
Sell

329.62
Sell

MA100

329.44
Sell

331.58
Sell

MA200

336.09
Sell

332.63
Sell

Buy: 0

Sell: 12

Summary:STRONG SELL

 

 

Soybeans August 2020

The new week started with strength in front month soy futures. Beans closed with 4 1/4 to 5 cent gains. Meal futures closed $2.10 to $2.60 higher. Soy oil was firm, closing a point within either side of UNCH. USDA reported a large export sale of 132,000 MT of new crop soybeans to China. Soybeans were 64% blooming and 25% setting pods, according to the weekly NASS update. That is 7% and 4% ahead of average respectively. Conditions were up 1% to 69% gd/ex and 2 points higher on the Brugler500 index to a 375. IL beans improved 17 points wk/wk to a 376 on the Brugler500. The weekly Export Inspections report showed a 6% drop wk/wk in bean exports, as 16.6 mbu were shipped. Of the week’s exports, the Netherlands and Egypt were the top destinations each with nearly a quarter of the total. China was the destination for 17% of the week’s bean shipments.

  • Aug 20 Soybeans closed at $9.03, up 5 cents,
  • Sep 20 Soybeans closed at $8.96 3/4, up 4 1/2 cents,
  • Nov 20 Soybeans closed at $9.00, up 5 cents,
  • Jan 21 Soybeans closed at $9.04 1/4, up 5 cents,
  • Aug 20 Soybean Meal closed at $288.60, up $2.10
  • Aug 20 Soybean Oil closed at $29.93, up $0.01

 

 

Pivot PointsJul 21, 2020 03:47AM GMT

Name

S3

S2

S1

Pivot Points

R1

R2

R3

Classic

897.92

898.46

898.92

899.46

899.92

900.46

900.92

Fibonacci

898.46

898.84

899.08

899.46

899.84

900.08

900.46

Camarilla

899.11

899.20

899.29

899.46

899.47

899.56

899.66

Woodie's

897.88

898.44

898.88

899.44

899.88

900.44

900.88

DeMark's

-

-

898.69

899.35

899.69

-

-

 

 

Technical IndicatorsJul 21, 2020 03:47AM GMT

Name

Value

Action

RSI(14)

38.515

Sell

STOCH(9,6)

30.394

Sell

STOCHRSI(14)

0.000

Oversold

MACD(12,26)

0.370

Buy

ADX(14)

37.675

Sell

Williams %R

-93.438

Oversold

CCI(14)

-145.8430

Sell

ATR(14)

1.7507

High Volatility

Highs/Lows(14)

-2.4279

Sell

Ultimate Oscillator

38.403

Sell

ROC

-0.388

Sell

Bull/Bear Power(13)

-3.9620

Sell

Buy: 1

Sell: 8

Neutral: 0

Summary:STRONG SELL

 

 

Moving AveragesJul 21, 2020 03:47AM GMT

Period

Simple

Exponential

MA5

899.83
Sell

899.86
Sell

MA10

901.54
Sell

900.72
Sell

MA20

901.83
Sell

900.83
Sell

MA50

898.71
Sell

897.91
Buy

MA100

891.33
Buy

895.03
Buy

MA200

891.02
Buy

890.57
Buy

Buy: 5

Sell: 7

Summary:SELL

 

 

 

Pivot Points

Name

S3

S2

S1

Pivot Points

R1

R2

R3

Classic

325.38

325.63

325.88

326.13

326.38

326.63

326.88

Fibonacci

325.63

325.82

325.94

326.13

326.32

326.44

326.63

Camarilla

325.98

326.03

326.07

326.13

326.17

326.21

326.26

Woodie's

325.36

325.62

325.86

326.12

326.36

326.62

326.86

DeMark's

-

-

325.75

326.06

326.25

-

-

 

 

Technical Indicators

Name

Value

Action

RSI(14)

32.174

Sell

STOCH(9,6)

27.321

Sell

STOCHRSI(14)

48.696

Neutral

MACD(12,26)

-1.400

Sell

ADX(14)

71.934

Oversold

Williams %R

-86.546

Oversold

CCI(14)

-118.7301

Sell

ATR(14)

1.3807

Less Volatility

Highs/Lows(14)

-0.9614

Sell

Ultimate Oscillator

32.362

Sell

ROC

-1.289

Sell

Bull/Bear Power(13)

-3.0040

Sell

Buy: 0

Sell: 8

Neutral: 1

Summary:STRONG SELL

 

 

Moving AveragesJul 21, 2020 03:31AM GMT

Period

Simple

Exponential

MA5

326.42
Sell

326.53
Sell

MA10

327.34
Sell

327.28
Sell

MA20

328.79
Sell

328.47
Sell

MA50

331.09
Sell

329.62
Sell

MA100

329.44
Sell

331.58
Sell

MA200

336.09
Sell

332.63
Sell

Buy: 0

Sell: 12

Summary:STRONG SELL

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