There’s just no urgency to add to longs to cover needs on any grain or oilseed right now! Speculative selling has been pushing wheat lower as new crop prospects are neutral to good given the moisture passing through the Plains and Midwest and the market is still feeling a little pressure from Black Sea movement before the onset of winter………………………………But, …
Livestock Report
Cattle and Hog markets continue to trade within their trading ranges. Cattle markets are trading in the lower end of their ranges while Hogs are trading in the upper end of its range. January Feeder Cattle broke down and made a new low (147.575), challenging the 200 DMA at 147.70. It held and Feeders settled at 148.10. A break down …
Live Cattle Option Strategy
It appears that Funds bought Cattle this year because long open interest has increased, a solid base may have formed in Feb Cattle above $119.00 and $120.00 last at $122.27, weather conditions are favorable although wet. Cash has held steady while futures have taken some profits and open interest would indicate that some futures contracts spreading out of December into February. …
Grain Spreads: Probing
I suppose wheat bulls were disappointed with today’s action as the move lower today whisked away much of the Friday/Sunday night rally that sent both Kc and Chicago contracts back under 5.00. All is not lost as I don’t see this market moving that much lower ahead of next weeks USDA crop report. The market received some much needed demand …
AG TIME – Leveling the Playing Field
A brief look at the outside markets (outside the AG). The dollar continues to exhibit strength. I have said for some time I believe this trend will continue. The US is back in the CAT BIRD seat. The dollar is solidifying its dominance. Too much strength now, however, does not help the grains. The bonds have bounced off the lows. …
Election Influence
We are approaching the wrap up phase of the 2018/2019 corn and bean crops and the final 20% of the 2019/2020 seeding of the winter wheat crop…………………………………………………………There is still a concern that there’s still too much corn and beans and too little space which could keep end users calm and cool and able to wait through the winter to accumulate …
Stocks CAVE- OLB hit. Dow NASD SPU
ARP HERE, All Opinions,News, Items of the day as I see them. MEATS FCX held a green algo, The first time down at last weeks low,place a stop below the low level. The cash traded 114,then 115 in kc I suggest not looking at the fundamentals,and play the olive line levels with stops. This can be difficult. CME pit talk …
Livestock Report – Live Cattle
December Live Cattle struggled on Monday, October 29, 2018. With cash trading as high as 115.00 on Friday, traders were hoping for price to challenge the higher end of the trading range. When it couldn’t trade above the Friday 118.80 high, sellers were able to put pressure on price. It couldn’t take advantage of Friday’s strong trade in both the …
AG TIME – Rolling Along
The month of October is about in the books. The weather has improved and the harvest is rolling along. Today’s progress numbers should confirm that. The next large fundamental to watch will be the Nov crop report. It is possible to see a further increase in yield. Slight as it may be. The beans will continue to have much to …
Don’t Try to Find The Bottom, But Try to Buy the Dip
MACRO BACKDROP: Welcome back, readers. Domestic equities markets have been posting negative closes nearly all month. Losses have appeared broad and wide across nearly all sectors. Selling has been rampant, obviously. In the underlying S& P 500, defensive sectors appear to be the only sectors with gains as scared money may have found a place to hide, in my view. …