
Corn “Golden Cross” 🚨 MASSIVE Rally Ahead?! | Mish Schneider
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The Weekly Money Clip — Corn “Golden Cross” 🚨 MASSIVE Rally Ahead?! | Mish Schneider. Machine-transcribed; use the interactive transcript above to jump the player to any line.
No, we had talked about soybeans and wheat and corn. Well, there was also a USDA report this week that showed that corn plantings are greatly reduced. And because of weather patterns, we could see some drought situation. Oh, the backup. So corn plantings are lower this year. Any reason why? I think partly because farmers just can't afford to grow that much corn because they've had so many financial issues in this country. And so, you know, again, the thing is, is that we're coming into a potential seasonality bullish for grains at a time where they're already going up because of supply chain issues and fears coming out of the Middle East, particularly with fertilizer. So we've had kind of a sell-off in corn, but just like with sugar, really into some major support here. So we might be getting opportunities to buy some of these grains with a very low risk.
You know, oil right now, high risk, natural gas, who the heck knows. But wheat, I'm looking at a corn, excuse me, corn right now, really basically has the moving averages with a golden cross, something we haven't seen, which means the 50s over the 200 in the cash market. We haven't seen that for a very, very long time, so now it's bullish. The price is very close to those moving averages as a trader that gets me excited.
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