Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

The April Lean Hogs contract once again gap opened lower continuing its descent into the abyss, breaking down and plowing past support, going down the expanded limit, but settling above limit at 61.60. Limit levels go back to normal. Settlement was below the 61.60 support level and another weak open on Monday could see price get pressured and test support …

ag thoughts

John Walsh General Commentary Leave a Comment

The past two weeks has witnessed a unwinding of the rally in bean oil. The break has been dramatic and is approx 6 cents from the high. The oil share has broken from 36.8 % to approx 33.8% (h) on the close. Thats a reasonable move in a short period of time. It also reiterates the fact that the markets …

Grain Spreads: July/Dec Corn Wedge

Sean Lusk General Commentary Leave a Comment

Old Crop/New Crop Corn or in this case July 20/Dec 20 corn has been wedging since early November. The spreads range is approximately from 1 cent July over to 5 cents under. A whopping six cent range. (See Chart). In my view something big for Corn is on the horizon. Whether we see an old crop squeeze vs potentially higher …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The April Lean Hogs contract continued its descent, breaking down and plowing past support, nearly going down limit during the session. It traded past support at 68.75, making the low at 68.675 and settled just above it at 68.825. A failure at support could see price test support at the 100 DMA at 68.01 and then 67.80. Panic selling …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The April Lean Hogs contract opened higher and rallied to 72.40, closing half of the 72.825 – 72.00 gap established on Monday. Price failed here and traded lower the rest of the session and settled at 71.30. This is just below the key area at 71.85 – 71.325. A failure at settlement could see price test support at the …

Grain Spreads: Remember When

Sean Lusk General Commentary Leave a Comment

Last Summer’s fears of a continued trade war fueled thoughts of weak demand amid ample supplies. Ending Stocks estimates for soybeans swelled to over One Billion bushels. Yet last year’s growing issues gave us lower yield and almost a billion less bushels than the 18/19 crop year. Weak demand was offset with a 25 percent cut in supply. Ending stocks …

MARKET THOUGHTS

John Walsh General Commentary Leave a Comment

In looking at the markets in general. It appears to me that there is still a lack of understanding of how the global landscape is being shaped by the Trump administration. Regardless of how a individual may feel about the Trump policies. He is more than any President in recent memory someone who has followed through with his words. The …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

The April Lean Hogs contract gap opened lower and broke down, going limit down for the session and settling down limit. Exceptional US production and Coronavirus fears continue to plague Hogs. Approximately 23 cities and 56 million people have essentially been quarantined as the Chinese attempt to limit its spread. And spread it has as at least 13 countries, including …

Grain Spreads: Corn Realities…

Sean Lusk General Commentary, Grains Leave a Comment

Spot Corn futures settled at their best level in weeks and looks poised for a potential run to 4.05 basis March futures and maybe beyond. Weather and its impact on future yields in South America will be one of the major determinants for price. The demand side of the ledger will depend on sales for future shipment to increase in …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The April Lean Hogs contract broke out above the 200 DMA (74.52), trading past resistance at 75.60 to the high at 75.975. It couldn’t reach resistance at 76.175 and pulled back to settle at 75.35. If settlement holds, a test of resistance at 76.175 is possible. Resistance then comes in at 77.80. A failure settlement could see price re-test …