The Monday afternoon radar shows moderate rains over central and eastern Kansas into north central Oklahoma with additional moderate rain showers over the base of the Texas panhandle and Western Texas. 12z GFS / CMC MODEL COMMENTS 1-5 DAY = There continues to remains significant model uncertainty as to how much rain is going to fall over the ECB in …
Livestock Report
Live Cattle The October Live Cattle contract made a new low for the move on Monday July 31, 2017, making its way down to test support at the 110.80 level, making the low at 111.25. A late day rally took the October contract past the open (112.45), which also was the session high to a new high for the day …
Ag Commentary
The crop condition ratings will be released today. Most are looking for a decline in beans of 1-2 % . Im not sure this will be the case as the temperatures have moderated. In addition rains are falling in the central and eastern belt. The west still has time for improvement in the next three week period if,again if rains …
Early Week Price Action: September Soybean Complex
September Soybeans Beans open lower in Sunday night session posting hard shadow low below 991 support target to 987.4. Prices stabilize and press higher to settle at 999.6 down six and half cents. Any rise from here will test trend-line come-back at +/-1005.2. A hold above rises to cross resistance zone of +/- 1022. This is the line …
Weekly Gold Report
Gold prices rallied to a six week high closing at 1275.3 basis December futures. For the week gold futures rallied $14.00 while September silver gained 24 cents to close at 1669.5. With the rally gold has pushed through and closed above all major moving averages as economic data sunk this week the Dollar while outside markets like energy soared as …
Weekly Wrap-up: September Soybean Complex
September Soybeans Moderately higher price action unfolds in today’s market action. Weekly candle formation develops a high-wave inner doji displaying market participants uncertainly.A hold above 1006 should challenge +/- 1020. I believe a hold/close above points to further advancement targeting +/- 1065. Market finds initial support right at closing price. A slip lower that holds …
Ag Commentary
The soy complex rallied today due to a continued dry forecast for the western belt. The heat has somewhat moderated. The question will be if the dryness persists for the next 2-3 weeks. This would have the potential to effect the overall yield potential. There have been a few scattered showers that have shown up unexpectedly. This may mean nothing …
Cattle August, before it goes limit down. 112.50
I have spelled this game out for a few weeks. Alert is given to longs in this market. Here are two charts ahead of time. Let’s watch how this plays but sharply lower prices from here if we deteriorate or which we are live. ARP 312.957.8248 BUS HOURS. [email protected] Lunnie says 108.00+/-
Ag Commentary
The market at present is attempting to digest the weather. This will be the driving force behind price discovery over the next three weeks. As I said earlier in the week. There are times to take to the sidelines and be patient. If the market continues to rally this presents a opportunity to the producer. Not only for unsold current …
Now What? : September Soybean Complex
September Soybeans Beans chopped higher in today’s session. After initially reacting off the 998 level touched on in Thursday’s report market presses above to post high just shy targeted resistance of 1005.6 slipping in day session to finish at 1000. For me structural clues are non-apparent in today’s price action. If the market dips here it will find …