In this episode of Tech Talk, Andy and Cody discuss CME Cheese, Sep Nonfat, and Dec Corn.

Questions or comments? Charts you’d like to see? Contact us at Insights@Ever.Ag, or give us a call at (312) 492-4200.

Charts sourced from Ever.Ag Platform.

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0;00;00;17 – 00;00;08;25
VOICEOVER
Future trading involves risk and it’s not suitable for all. Investor contact provided in the statement is meant for educational purposes and is not a solicitation to buy or sell commodities.

00;00;08;27 – 00;00;15;04
CODY
Hello everybody. Welcome back to another episode of Tech Talk. I am Cody, this is Andy. And together we make up the tech talk team, talk.

00;00;15;04 – 00;00;16;14
ANDY
Team you.

00;00;16;15 – 00;00;17;15
CODY
For the new one.

00;00;17;17 – 00;00;20;04
ANDY
That was an absolutely cube there.

00;00;20;06 – 00;00;31;27
CODY
So we just throw it out there on this beautiful Thursday afternoon. It is July 20th for reference, about 3:00 central Time Zone. It’s you’re wearing.

00;00;31;27 – 00;00;40;01
ANDY
Like quite a black all black, isn’t it really hot out like all the sun, like energy, Just like usually like baking in heat right now, what’s going on?

00;00;40;03 – 00;00;41;18
CODY
I’m outside. I got the fans are on.

00;00;41;26 – 00;00;43;18
ANDY
How many fans you have gone?

00;00;43;20 – 00;00;44;14
CODY
Three.

00;00;44;16 – 00;00;46;03
ANDY
Three fans.

00;00;46;05 – 00;00;50;25
CODY
So turn my air conditioner off is too much electricity So I figured I’d get some fans.

00;00;50;28 – 00;00;53;13
ANDY
And then also heating up electricity, though.

00;00;53;15 – 00;00;57;00
CODY
Not as much. We’re open. It’s it’s a work in progress, my friend. This is the.

00;00;57;00 – 00;00;59;17
ANDY
Way like the editorial we.

00;00;59;20 – 00;01;06;02
CODY
Say we as like it. It just makes it feel better instead of I it’s like we as a team, right? Our team got it. Togetherness.

00;01;06;02 – 00;01;08;18
ANDY
You don’t know I’m always referencing there do.

00;01;08;20 – 00;01;11;02
CODY
I didn’t ask you.

00;01;11;04 – 00;01;19;23
ANDY
You know like the we the editorial we signed. Right. Never mind. That’s fine. Get the hammer out. What do you want to buy today?

00;01;19;25 – 00;01;21;05
CODY
Let’s see. We’re buying cheese.

00;01;21;07 – 00;01;28;09
ANDY
I guess so. Look at that. What did we talk about last time? It’s been a few weeks. We talked about this having a potential to be a the bottom. So I’m not mistaken.

00;01;28;11 – 00;01;29;04
CODY
You call that one.

00;01;29;04 – 00;01;41;20
ANDY
Number about that? That left a lot of selling behind here, huh? Look at this. All basically from today. What were we, up $0.13 in the block, 13 and a half cents. $0.12 a barrel at night. I don’t know. Where we going? Where are we.

00;01;41;20 – 00;01;44;04
CODY
Going? What are we at now? One 165 mic.

00;01;44;04 – 00;01;45;25
ANDY
One average, 165.

00;01;46;00 – 00;01;46;20
CODY
Good night.

00;01;46;23 – 00;02;08;05
ANDY
Momentum. About to cross zero for the first time since like this little blip or in like March four, it came right back down. So if you exclude what was basically Hang on, hang on. I mean there really wasn’t much of a cross over zero on that one. So all year it’s has been negative, basically. Yeah, this could get a little dicey that thing crosses over.

00;02;08;05 – 00;02;11;22
ANDY
What do you think? Where are we going back to dollars $80, 92 bucks to 50?

00;02;11;24 – 00;02;14;24
CODY
I mean, I think at this point, what we got, I’d say a dollar, $80.

00;02;14;26 – 00;02;18;13
ANDY
80. All right, So this is Cody’s car here. Let me just drag this bad boy down.

00;02;18;15 – 00;02;26;01
CODY
I’ve got a buck 80 drawn lines over here. So we went from $2 to a buck 80 in about the same amount of time as we’ve gone from a dollar $32.65.

00;02;26;01 – 00;02;28;23
ANDY
Well, shoot, Futures are saying we’re going to be up here.

00;02;28;26 – 00;02;30;27
CODY
Yeah, Yeah, that’s true.

00;02;31;00 – 00;02;52;15
ANDY
Futures have been a big premium. They well up forward, right. I mean like Q4 for example. Then we saw a brief, a brief point in time where futures kind of dip below some of the other national prices to seem like we’re starting to get some business done. Then we had no production today about that. Yeah, there’s a well, we’ll have more on that, some other insights through the insights.

00;02;52;17 – 00;02;55;26
ANDY
But all that smoke out there, what do you think The.

00;02;55;27 – 00;03;05;15
CODY
Less milk seems to definitely be adding to our story in our chart. I’m not just the rally here the past two three weeks as a weekly chart.

00;03;05;16 – 00;03;25;25
ANDY
So I think there’s something to be mindful of is, you know, what was once support. Is it going to be resistance here right here at a dollar 70 bam, right there. Look at all look at all the support rallies and then pop itself up to two bucks and then blew through it. And it looks like that that number is about to become a magnet.

00;03;25;29 – 00;03;43;00
ANDY
Right. This is another nickel from here. So it looks like we got a good let’s go test that price. So I guess the question is, does it does it maintain itself as a resistance because support typically, you know, will become resistance once it breaks through and vice versa Either way, I mean, that’s on a price. The market seems to like to kind of hang around for very long.

00;03;43;06 – 00;04;02;28
ANDY
It took off two bucks and then promptly, but once it broke through there on its way to 130, so it looks like it wants to go test that price. And then I guess we’ll see. And futures are saying here, I think your call was 180. So Cody’s called remedy futures. Let’s go take a peek at the SAP arc notice.

00;04;03;00 – 00;04;20;29
ANDY
Yikes. So SAP one any ones with you know, these are about a dollar nine ish, I guess. Just stay tuned. But there’s no production report today. Plus, given that given like futures and how cash has acted, plus what seems like we’re starting to get some more export. But I mean, we had all this I said we looked it like earlier, so we left a lot of selling behind.

00;04;21;04 – 00;04;23;14
ANDY
We were having just huge volume days.

00;04;23;16 – 00;04;24;13
CODY
Yeah.

00;04;24;16 – 00;04;25;19
ANDY
Right. Like through all.

00;04;25;19 – 00;04;27;05
CODY
This stuff after day.

00;04;27;07 – 00;04;46;02
ANDY
Day after day, it was, you know, 20 plus barrels. And then you switch over the blocks and I think we were on par or on pace year to date as of July one, to have a record year in spot volume. So we’ve seen that kind of dry up. I think that’s again, we’ll see with the export report for July shows us here later on down the road.

00;04;46;04 – 00;04;57;07
ANDY
It sure feels like a little bit this is down. So you’re saying dollar 80? I think we at least got to go test know what was one support here became resistance. Will it or will it not? I don’t know.

00;04;57;12 – 00;05;00;06
CODY
We might be able to tell tomorrow. You said nickel away.

00;05;00;09 – 00;05;04;08
ANDY
But I was like I was like 3 minutes in. Today’s gas session was a nickel.

00;05;04;15 – 00;05;07;01
CODY
Yeah. I mean, literally. Yeah, literally.

00;05;07;04 – 00;05;08;01
ANDY
So yeah.

00;05;08;07 – 00;05;08;17
CODY
Yeah.

00;05;08;17 – 00;05;15;16
ANDY
It like it left a lot of this volume behind. I think we got to go at least test here. Cody’s going is here futures are saying here.

00;05;15;19 – 00;05;15;21
CODY
The.

00;05;15;29 – 00;05;19;26
ANDY
Score going footballs right around the corner. Schools are about to start up.

00;05;19;28 – 00;05;20;19
CODY
And.

00;05;20;22 – 00;05;22;05
ANDY
Cody’s running. His fans.

00;05;22;12 – 00;05;23;05
CODY
Go time, go.

00;05;23;05 – 00;05;24;21
ANDY
Time. It’s so hot outside.

00;05;24;21 – 00;05;24;27
CODY
And.

00;05;25;03 – 00;05;30;25
ANDY
It’s so hot outside. What are the cows doing at home, by the way? What do they do on the pen slide?

00;05;30;27 – 00;05;32;23
CODY
I think cows are doing pretty good right now.

00;05;32;23 – 00;05;34;09
ANDY
Cows are doing okay.

00;05;34;12 – 00;05;53;29
CODY
Because do we haven’t quite seen the heat that’s come across from New Mexico, Arizona, Texas just yet? I think next week we’re supposed to nineties upper nineties. So that’s going to be the big telling tale right now mid eighties so not not too bad but next week is going to be the big one a big Yeah yeah.

00;05;54;02 – 00;06;01;01
ANDY
Everything are we had those tornadoes not too long ago that like when over Lake Michigan and like hovered over you.

00;06;01;03 – 00;06;01;21
CODY
See your house.

00;06;01;21 – 00;06;03;09
ANDY
Go down and that’s good.

00;06;03;11 – 00;06;05;17
CODY
We’re still out here.

00;06;05;20 – 00;06;12;22
ANDY
Run out three fans you’re like for how many fans Like what’s the max number of fans that you can run in that room?

00;06;12;25 – 00;06;15;10
CODY
I’ve only got three plug outs in this room. So threes Max right now.

00;06;15;10 – 00;06;17;08
ANDY
Plug out what’s a plug out.

00;06;17;10 – 00;06;18;26
CODY
Plugs. Plugs.

00;06;18;28 – 00;06;20;17
ANDY
I remember.

00;06;20;19 – 00;06;21;07
CODY
But.

00;06;21;09 – 00;06;29;11
ANDY
That’s you know you do. You. All right, here we go. Seth sat. What do you want to do? This thing?

00;06;29;14 – 00;06;31;08
CODY
This looks like a little bit of a buying opportunity here.

00;06;31;12 – 00;06;34;28
ANDY
Oh, I was thinking the same thing.

00;06;35;00 – 00;06;42;05
CODY
We get over the we got over the 20 day moving average. Next one was like your yellow line and mine are both 50 day moving average, right?

00;06;42;06 – 00;06;49;10
ANDY
Yeah, sir. And what’s one of your favorites right here. What’s going on? Bam. Right there. What’s that?

00;06;49;12 – 00;06;51;17
CODY
Look at that. That looks like you’re trying to circle.

00;06;51;20 – 00;06;55;10
ANDY
My circle right here. And then right here. It’s a nice higher low.

00;06;55;12 – 00;06;56;08
CODY
There you go.

00;06;56;10 – 00;07;18;02
ANDY
So you got, like, the technical pattern’s starting to take shape. You’ve got some of these secondary indicators to the cross back. So the bottom ones are a sign. So it cross into oversold territory. When it got below the blue line, came back over it, which would indicate, you know, that’s a buy signal. Right. And you tried to come back down and then failed and now we’re back above that.

00;07;18;05 – 00;07;36;02
ANDY
You know, that line, that area right there. So you’ve got the secondary indicators confirming what looks like a nice bullish pattern here. So it looks like not that at the very least to go test this, you know, longer term downtrend here. What does it seem like, 117 ish? So that’s far away, though, 19 and 17, somewhere in there.

00;07;36;04 – 00;07;37;14
ANDY
Oh, what do you think?

00;07;37;16 – 00;07;47;23
CODY
It’s I mean, it looks like it looks like a pretty good, decent buying opportunity right now. Know what you want. Go. Definitely find opportunity to hammer out.

00;07;47;25 – 00;07;49;15
ANDY
What’s waiting for this.

00;07;49;17 – 00;07;51;28
CODY
This is a good one to get everything rocking and rolling again.

00;07;51;28 – 00;07;57;26
ANDY
Oh, buy some knots. And the hammers bought it, did it shaking in the fans when you when you struck the hammer, by the way.

00;07;57;29 – 00;07;58;25
CODY
Not that.

00;07;58;27 – 00;08;01;16
ANDY
They didn’t get knocked out of the plug outs as you call.

00;08;01;19 – 00;08;03;18
CODY
Snap outs.

00;08;03;20 – 00;08;12;23
ANDY
All right and start using that at home. I mean, don’t touch the plug actually. Come on. We got one more. By the way, sidebar, will we pull this up? You watch. One moment.

00;08;12;25 – 00;08;15;16
CODY
I missed the beginning and the end of that.

00;08;15;17 – 00;08;19;22
ANDY
It was the beginning and the end of it. You catch it in the middle of two weeks.

00;08;19;23 – 00;08;20;10
CODY
A little bit busy.

00;08;20;10 – 00;08;21;21
ANDY
It was two weeks.

00;08;21;24 – 00;08;24;26
CODY
Oh, shoot. Next year.

00;08;24;28 – 00;08;30;01
ANDY
Are you still What episode are you on? Game of Thrones Season one Episode one.

00;08;30;03 – 00;08;32;05
CODY
A spoiler alert. Don’t spoil that one.

00;08;32;08 – 00;08;40;17
ANDY
The Season one episode one Game of Thrones. You’re done. You still got to get caught up on Wimbledon. Have you seen The Sixth Sense yet, by the way? Bruce was.

00;08;40;19 – 00;08;41;00
CODY
Not.

00;08;41;07 – 00;08;44;23
ANDY
You haven’t. Can we spoil that one yet? It’s been like 30 years. I think.

00;08;44;25 – 00;08;48;23
CODY
Spoiler spoilers Don’t don’t get a spoiler alert. Anyway.

00;08;48;26 – 00;08;50;21
ANDY
Let’s talk corn here for a second. What you got?

00;08;50;24 – 00;08;57;21
CODY
What do you think? Gigantic information coming about. I mean, I think personally it’s hard to get back up to that $6 kind of numbers.

00;08;57;21 – 00;08;58;05
ANDY
Where do you see.

00;08;58;05 – 00;09;06;23
CODY
The as we are? So start back where you’ve got because I’ve got the same thing drawn. If you go back to like the 18th of May.

00;09;06;24 – 00;09;08;09
ANDY
Okay. Right here, right.

00;09;08;12 – 00;09;19;19
CODY
Yep. Then you go all the way up to that big run up that we had. Yup. Kind of come back down here. Little bit of a rounding pattern, if you will.

00;09;19;21 – 00;09;30;10
ANDY
So you don’t think this is an inverted head and shoulders were like a w you think this is more of an M and fail and come back down?

00;09;30;12 – 00;09;41;05
CODY
That’s that that’s what I’m asking does it. And that’s why I’m s I’m saying this is going to be a little bit hard to get up about $6 625 number that we saw before so it could be a potential W formation long term.

00;09;41;07 – 00;09;50;21
ANDY
So I agree with you, but I think we have to go test all this stuff first. So right now, all up in this business right here.

00;09;50;23 – 00;09;52;27
CODY
To make a W.

00;09;52;28 – 00;10;12;22
ANDY
No, I’m making them right. So I think I think what you’re talking about here is basically like, let’s clean some of the stuff up. Shelly So what you’re looking at, I think, is here, correct? And then here and then at some point you’re going to have a failure to put in a new high. Yeah. And then once that occurs, bam.

00;10;12;26 – 00;10;14;27
CODY
Right. Okay.

00;10;14;29 – 00;10;36;10
ANDY
I’m with you now. Yeah, I think that’s. I agree. I think we have to go test that. The upper end of this range though, which would be like 573. Right. So I think what you can end up seeing is like tomorrow. So this like next candle tomorrow is like a smaller green body with a similar width or excuse me, similar wick, the other top end.

00;10;36;10 – 00;10;59;16
ANDY
Right. So what is this high for the first couple of days? So does this 563 by basically 563. Right. So you’re going to go trade like 563 and a half or something like that and then settle like around five and a half. So it would be a higher day, but a much smaller like body. And then you start to go, right, It’s not like that next open because you still have some momentum to the upside.

00;10;59;21 – 00;11;23;09
ANDY
You still have some breathing room here on some of these, some of these secondary. So I think tomorrow’s session is probably pretty key right when we open lower tomorrow. Is it like that would what I’m what I’m describing. You wouldn’t you wouldn’t see any trade below yesterday’s low. Today’s low excuse me which is at 542 and some change so you got to see like I think we see just a very small body tomorrow.

00;11;23;09 – 00;11;44;05
ANDY
It’s like a 563 high or, you know, somewhere in there and then start to go like so tomorrow’s Friday, maybe we open Sunday night into Monday, higher than like, let’s say, just like these two. Look at this. Look at this open right here. So 532 versus today’s closed five. Wait a minute. I’m sorry. I’m looking at the close.

00;11;44;05 – 00;12;03;22
ANDY
So 553 and then an open A five. Yeah. Like there’s not much there. I’m looking at this line right there. Those two. Right. The top ends of those bodies. Right. Would surprise me if you saw another one other like body. This ended there tomorrow with another high like another wick. So it’s kind of like stair step in itself up.

00;12;03;24 – 00;12;12;01
CODY
Now do you think we need to settle like so like yesterday the settle 553 Do you think we need to settle about 550 for us to continue on this upward element? So we’ve been I don’t.

00;12;12;01 – 00;12;32;20
ANDY
I think you just need to see like a green, a green candle that settles within the body of this one of today’s right. And maybe it has like it’s like 563 or something like that. And then it opens higher above these to like this, this open and then this close. Right. So this line right here. So what price is that?

00;12;32;20 – 00;12;34;22
ANDY
553. You see that?

00;12;34;25 – 00;12;34;28
CODY
Yeah.

00;12;35;01 – 00;12;53;06
ANDY
I’m sorry. Up close. This is the open and then that close. So I think you get I think you see like another kind of close around here, small green candle wick that matches that one and then open higher above this 553 for like Monday and then it starts to go. But I agree like I think, I think it turns into a failure ultimately.

00;12;53;09 – 00;13;03;08
ANDY
So let’s say it kind of comes down to here and then starts to just roll over. So it’s kind of a bold move. COTTON So bold strategy cut and let’s see if it pays off for it.

00;13;03;08 – 00;13;14;02
CODY
If it doesn’t, if it doesn’t, if we open tomorrow lower and we continue our path lower, do you think it turns into a W formation off of $5 for 90, the bottom end of the range there.

00;13;14;05 – 00;13;17;19
ANDY
I think you’re you’re M is just that much more pronounced.

00;13;17;21 – 00;13;27;04
CODY
But. B Okay, so here’s a good question. To be a full M do you need to go in? What percentage of the previous peak do you need to get to to be a quote unquote information?

00;13;27;11 – 00;13;30;24
ANDY
I mean, this is this is yeah, I mean, it’s it’s.

00;13;30;24 – 00;13;31;10
CODY
It’s.

00;13;31;12 – 00;13;40;17
ANDY
Pretty subjective, but I mean, this is retrace a significant portion of this move, hasn’t it. Yeah. 50% is retrace 50% of that move. That’s a lot.

00;13;40;19 – 00;13;41;06
CODY
Know.

00;13;41;09 – 00;14;02;27
ANDY
So yeah on a like I said I mean to me I think we’re thinking the same thing it’s just how does how does tomorrow’s open really tonight how does that open play into it. Right. And then tomorrow’s close. If you get a green small green body candle tomorrow that’s within the body of this one, I got to be really careful of it opening higher on Sunday night in the Monday.

00;14;02;28 – 00;14;09;19
ANDY
And I but I view that as a saw an opportunity depending on how it acts. But I think we got to go test all this junk right here at stuff. Right.

00;14;09;22 – 00;14;11;29
CODY
So 546 576 the.

00;14;12;01 – 00;14;13;22
ANDY
Significance of change.

00;14;13;24 – 00;14;17;13
CODY
Okay. So it doesn’t.

00;14;17;15 – 00;14;20;05
ANDY
The U.S. Open is in September, by the way.

00;14;20;07 – 00;14;22;10
CODY
Let me reiterate my calendar.

00;14;22;12 – 00;14;25;15
ANDY
You know, you could probably grind through Game of Thrones by then, at least.

00;14;25;15 – 00;14;27;20
CODY
Watch the golf course. Baseball.

00;14;27;21 – 00;14;33;21
ANDY
There is a U.S. Open for golf. I was talking about the tennis one, but there is no okay for golf, too. You could watch that.

00;14;33;24 – 00;14;38;02
CODY
Well, football starts in about five, six weeks. So I’m pretty ramped up.

00;14;38;05 – 00;14;41;00
ANDY
You’re pretty ramped up, which? Michigan State, for sure.

00;14;41;02 – 00;14;49;24
CODY
I mean, we have five wins. Six wins. I’m pumped right? Green Bay going into the playoffs. Third round. Mark it down right here.

00;14;49;26 – 00;14;52;07
ANDY
Hang on a second. Hang on a second. Green Bay.

00;14;52;07 – 00;14;53;17
CODY
Mark that one down.

00;14;53;20 – 00;14;57;00
ANDY
Green Bay Playoffs. What what did you said?

00;14;57;08 – 00;15;05;05
CODY
Third round. We’ll go we’ll make it pretty far this year I got faith timestamp that July 20th I called it supply.

00;15;05;05 – 00;15;16;21
ANDY
I don’t have time step in here in the media room. So July 20th, I’m just writing this down. I’ll timestamp this when I get back or I go out after July 20th, 2023. It’s 343 Central Cody.

00;15;16;25 – 00;15;18;14
CODY
Packers.

00;15;18;16 – 00;15;20;08
ANDY
Deep in the deep playoff run.

00;15;20;16 – 00;15;40;24
CODY
Deep in the playoffs. Deep. Cool. All right, everybody, appreciate you watching our tech talk, getting into our sports jargon. If you have not already subscribed the channel, please do gives thumbs up, be a friend. Tell a friend about the show. Until then. We’ll see you guys probably next Thursday. Have a great week. Go back.

00;15;40;26 – 00;15;43;16
ANDY
Get your plug outs.

00;15;43;19 – 00;29;11;02
CODY
Your plug outs, get and ever again. We partner with every corner of the agriculture industry, from dairy to livestock, crops and agribusiness, to deliver intelligent supply chain and risk management solutions. We are ever at everything agriculture. Learn more at W WW that ever dot again everything and every ag. We partner with every corner of the agriculture industry from dairy to livestock crops in agribusiness to deliver intelligent supply chain and risk management solutions.

00;29;11;04 – 00;29;19;01
CODY
We are ever ag everything agriculture. Learn more at W WW ever dot ag slash everything.

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