What is the largest input cost for corn production? -> Nitrogen
Where do we get it from? -> Gas production
Urea price range has already reached 600-660 $ range. Guess what happens if this goes above 700 $?
Add general energy crisis effects (cost inflation, transportation, etc.), and you have the setup for a perfect inflationary storm in food and agri products. Especially for corn, which is the most nitrogen based pesticide dependent crop.
Now look at technical setup and potential targets.
Daily:
- Bullish trend, price is above daily and weekly Kijun Sen lines.
- Heikin-Ashi buy signal from support
Weekly:
- double bottom formed
- bullish bias
- price is above weekly and monthly Kijun Sen lines
First weekly resistance is around 475, second weekly resistance and potential first target on Daily is 502. A close above this level would open space to 600-700 zone.
If you feel you missed the Oil rally, keep your eye on this, as I think it has an extremely good risk/reward to play long.
Where do we get it from? -> Gas production
Urea price range has already reached 600-660 $ range. Guess what happens if this goes above 700 $?
Add general energy crisis effects (cost inflation, transportation, etc.), and you have the setup for a perfect inflationary storm in food and agri products. Especially for corn, which is the most nitrogen based pesticide dependent crop.
Now look at technical setup and potential targets.
Daily:
- Bullish trend, price is above daily and weekly Kijun Sen lines.
- Heikin-Ashi buy signal from support
Weekly:
- double bottom formed
- bullish bias
- price is above weekly and monthly Kijun Sen lines
First weekly resistance is around 475, second weekly resistance and potential first target on Daily is 502. A close above this level would open space to 600-700 zone.
If you feel you missed the Oil rally, keep your eye on this, as I think it has an extremely good risk/reward to play long.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.