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CommodityTrends Weekly Newsletter

Barchart·10/16/2026 11:24:24
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Grains

To allow more time for a formation to develop, I've switched from watching Nov Rough Rice, and I'm now watching Jan Rough Rice. It's #1 top point is yesterday's high at 17.820. Keep watching for a chart pattern to develop.

Dec Soybean Meal made a #1 top point the high at 376.9 (on September 24). The #2 point is the low at 344.20 (made on Oct. 05). The #3 point is the high at 368.20 (made on Oct. 08). The pattern is in force and price is slowly breaking lower. 

Financials

Dec 10-Year T-Note made a #1 bottom point at 103-285 (the low on Oct. 01). The #2 point is 105-290 (the high on Oct. 15). Keep watching for all of the 1-2-3 strategy criteria to be met.

Meats

Dec Lean Hogs has developed a new #1 bottom point at 65.800 (the low on Oct. 15). Keep watching for all of the 1-2-3 strategy criteria to be met.

Foods/Softs

Nov Orange Juice is still trading inside of its very large triangle that began back in the latter part of July. Price is now, once again, testing the bottom of the triangle. There is a daily chart support level just below and also keep in mind that the triangle has formed inside of a weekly chart support zone. Below the weekly chart zone is a daily chart support zone that begins just above 120. Keep watching. Be sure to check my Daily Trading video for details of exactly how I'll approach this market. You can find more information by clicking here. 

Stocks and Exchange Traded Funds

Perrigo Company (PRGO) has been trending nicely higher and is closing in on a possible MET trigger. Keep watching.

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