10 min read

Weekly Grain update 9/11/22

Weekly Grain update 9/11/22
Photo by Rachel Nickerson / Unsplash


Following up on Wednesday's special update, you can see why we always say,

We will watch all the retracements on every move to see just how strong, or weak the market is regardless of the longer term target.


As I update this, we have today's low in November Soybeans hitting 1384.00, this was 78.6% of the 8/24/22 high and 8/3/22 low to the Tick and so far a 48 cent rally. We will now follow the ONE44 78.6% rule.
We will now follow the ONE44 78.6% rule.

The rally on Wednesday did go 48 higher, however it ended up closing back at the 1384.00 level. I didn't violate that level with two closes below it and it brought back the comment made in last week's update,

On the downside, a trade below 1384.00 that holds the 1368.00 major Gann square and closes back above 1384.00 (78.6%) should send it on a quick rally....

See Thursday's action!


We have today's high hitting the 688.00 target to the Tick. This target was given when it held the 38.2% level on 8/16/22 at 610.00, it is 61.8% and we will now follow the ONE44 61.8% rule.

Along with this being said and the long term target being 61.8% the other way, we also mentioned,

Any setback that holds 23.6% at 657.00 (also a major Gann square) would be extremely positive.....

See Thursday's action.


From last update,
Above 829.00, look for 23.6% back to the contract high, this is 874.00.
Today's high fell Two Ticks shy of 874.00, this is 23.6% back to the contract high.

This is what we said on Wednesday,

Today's high fell two Ticks short of 23.6% back to the contract high at 874.00. On a break from here look for the area of 78.6% at 773.00 and the 765.25 major Gann square. Any setback that holds the area of the 829.00 major Gann square and 38.2% at 825.00 would be very positive and you can look for new highs for the rally.

Again see Thursday's action.

Even with all of these levels being pointed out beforehand, this is why we always put this next paragraph in each update.

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.


Cattle continues to rally from 38.2% at 142.35 and October Hogs just missed the downside target of 88.80. Watch for the next update mid-week!

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.

This post is for paying subscribers only