Weekly Grain/Livestock Update 1/23/25

Weekly Grain/Livestock Update 1/23/25
Photo by Evi T. / Unsplash

Overview

Soybeans held 38.2% on the setback for the second time since the 12/19/24 low. First on 1/7/25 and then on 1/16/25. This keeps the short term trend positive and we continue to look for the long term swing point at 1095.00.

Corn held above the long term swing point at 470.00 and continues to rally. This Bull run all started with a failure to make a new low on 10/17/24 at a 78.6% retracement (415.00). The rally kicked up the pace after holding 38.2% on 12/19/24 at 437.00.

Wheat has held the 527.50 major Gann square for over a month now and this week traded above the 554.00 swing point for the week, however it could not get above 570.00, failing to turn the short term trend positive. We will now watch retracements below to see if this market can get something going to the upside.

Soybean Meal and Lean Hogs just completed a 78.6% retracement to a 78.6% retracement following the ONE44 78.6% rule. We will now see if the first 78.6% level will also be the end of their current moves.

Live Cattle held above the 196.35 major Gann square and swing point for the week keeping the trend extremely positive. We continue to look for the next major Gann square above.


ONE44 Analytics sends an email to every Premium Member when the Weekly update is done on Thursdays, if you do not receive one, please check your spam folder, or make sure you are signed up for the emails in your ONE44 account settings.


Being this is a weekly update we give all the key levels to watch for the week using Fibonacci retracements and Major Gann squares. We set up scenarios to look for when a level holds, or fails based on these methods, so it is very important to know for yourself how to use them following the ONE44 rules and guidelines. The best way to get a better understanding of these methods is to read all the posts (even if not on Grains) and watch our YouTube videos, as we explain why we think what we think based on the rules and guidelines. It is also important to view all the charts, as they have the key levels marked on them, if there are extended moves.

Thank You to all the new subscribers!

To all our Subscribers, when you are logged in to our website you will get all of the content in every post, so it may look like every Member/Non Member is getting the same thing. Please be assured that what you are paying for as a Premium Member of  "Grains Weekly" is only accessible by you and is not posted anywhere else for free. This can be proven by logging out and trying to get the full article that has a yellow star with it. One exception is we will occasionally post articles on Barchart.com with excerpts from our website and Videos to draw people to the website.