Kluis Comments 1/24

[AlKluis]

Good morning, I am on my way out to Colorado to the Colorado Farm Show in Greeley on Tuesday and Wednesday. It would be great to see you! You can find me by swinging by the Fontanelle booth or attending one of my workshops. In the grain markets I see several caution signs for the corn and soybean markets. The basis widening out is a caution sign as is the action in the spreads with old crop losing to the new crop months. The trend is still up but a close below last Thursday's low would be a trend changer in the corn and bean markets.

[vrbuck]

The gann 144 TD mark was hit today.  Add that to the gann 45 degree right angle that corn hit and it doesn't look good for the bulls.  If the correction is longer then 8 days the bulls would look even worse.

[k-289]

What about the live cattle ? ? ?

[AlKluis]

interesting timing , still think we are in an uptrend as long as ch11 can hold above $6.27 - last weeks low. Also if wheat keeps moving higher, it will be difficult to keep corn prices moving lower.