Audio Commentary


JANUARY 11, 2021 FONTANELLE FINAL BELL W/CHARTS

Final Bell Part 1
Final Bell Part 2
The USD has given a “buy” signal and has posted a fresh 2 week hight after today: does this last through mid-week? If it does, then we are likely going to “lose” some macro-related support in the agr. sector in my view.
This supports the mindset from the Final Bell Conversation relating to more rain coming for Brazil but still quite a bit of issues in northern Argentine the next 10 days–the forecast map above is 8-14 days out.
This is a key chart for me to watch tomorrow–did the corn go high enough to ration usage or not? I think the US Ending Stocks & Quarterly Grain Stocks are most important for the corn market (with S.A. production #3).
Note The 2 Gaps Below The Market, Sub-$100/CWT. I’d recommend getting hedges caught-up on Fats at 100% for Q2 in April if you haven’t already done so–especially with the Stochastics suggesting a “sell” signal potentially.
My FCM Sent Me This A Few Minutes Ago–You Will Be Receiving This From Them: It is a reminder of the historic volatility we saw in WTI Crude when it went negative in price this past Spring. This can happen to all commodities in my view since it happened in WTI. I’m not predicting it, just wanting to give you a heads-up that it’s coming.

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