Corn Update

John Walsh General Commentary Leave a Comment

The sideways grind in corn continues. The near term outlook offers some hope for a rally. The farmer has little incentive to sell at these levels. The Chinese should follow through on some purchases. The obvious hope is that corn is in the mix. This could be the near term boost the corn needs. I say could because the market …

Soy Complex

John Walsh General Commentary Leave a Comment

The soy complex remains lackluster. The market is waiting to see if and when China starts buying. The corona virus obviously has had an effect on the overall marketplace with many aspects of China Ag sector ground to a halt. The difficult part regarding lost demand is that it is typically gone forever. At least that is, an old saying. …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Commentary April Cattle futures traded lower on Thursday, February 20, 2020 trading past support at 119.15 to the session low at 118.975. It settled at 119.15. Resistance levels are at 120.70 and then 122.80. Support is at 117.80 and then 116.55. The cattle on feed report will be released after the close on Friday. Estimates are for cattle on feed …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

The April Lean Hogs contract continued its downward spiral after upside breakout failure. It opened lower from Tuesday’s settlement, made an early run higher to test resistance at 64.80 making the high at 65.05 and then a breakdown to support. Hogs traded through support at 63.325 to the low at 63.275. It bounced and settled at 63.775. Settlement was below …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

The April Lean Hogs contract wasn’t able to take advantage of Friday’s break out rally. Friday saw Hogs close the gap from the low on 1/30/20 at 65.825 and the 1/31/20 hi at 65.15. It traded to 66.85 which surpassed resistance at 66.55. It settled just below resistance at 66.25 on Friday. Monday’s trade saw price test Friday’s settlement and …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

The April Lean Hogs contract opened higher. traded to its high at 63.15 and then broke down, trading to its low at 61.65. The initial attempt to trade higher saw price fail just below resistance at 63.325. The breakdown took price just below support at 61.80. Settlement was just above support at 61.875. If settlement fails, a test of support …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The April Lean Hogs contract continued its wild trading ways, opening higher from Monday’s settlement, trading to its high at 64.375 and then getting pummeled. This time it fell more than 2 handles, stopping just below support at 61.80 at 61.775. It bounced and settled at 62.325. Price failed just below resistance at 64.80. If settlement fails, a re-test …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

The April Lean Hogs contract continued its wild trading ways, opening higher from Friday’s settlement, trading to its morning high at 63.00 and then getting pummeled, breaking 2 handles to the low of the day (and down move) at 61.00. The market reversed course and traded up the remainder of the day, making a new high at the end of …

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 …