Gold rose on Wednesday after comments from Federal Reserve Chair Janet Yellen curbed speculation that U.S. interest rates would rise more than once this year. In testimony for delivery to Congress, Yellen said the Fed would not need to lift rates all that much further to reach current low estimates of the neutral fed funds rate. That weighed on the dollar and …
Ag Commentary
The wasde report today showed ample amounts of everything. In my opinion. However, the most important aspect to consider will be the weather over the next 3 weeks. The concern for beans is that if a ridge moves over the central US their may be a reduction in the bean yield. A 5-6% reduction could change the domestic balance sheet …
Mid-week Technical Observations: Soybean Complex
September Soybeans Prices get a touch slippy after they fail to hold above 1031.6, yesterday’s hanging-man candle’s body low. This scenario was covered in Tuesday’s posting. Contract trades lower to 1015.4 before recovering to settle at 1025.2. A continued hold below 1031.6 opens the door for some liquidating pressure. A violation of today’s lows will break speed support …
USDA grains down, Meats limit up
Good afternoon, I hope some of you got a chance to market some of last years crop on this corn rally up at 1st of 3 sell level 415 a bu. This is an orange line, olives are above. If the market is going to top like yesterday these will be your levels but that is my opinion. You’ll see …
Tuesday AM US Grain Weather Update
AM RADAR CLICK HERE TO SEE FAST LOADING RADAR Overnight and early Tuesday morning strong storms developed over southern and southeastern Iowa which moved into central and northwest Illinois. There is a second cluster of significant storms and moderate / hvy rains over central Indiana. Additional scattered showers can be found over eastern South Dakota into southeast Manitoba Canada and lighter scattered …
Tuesday Midday US Grain Weather Update
This statement is being sent out because of the midday /12z Operational (“regular” GFS) and GFS ensemble data. The operational GFS model continues to show significant rains over the next five days for much of the ECB area. Over WI, central and northern ILL, IND and OH rainfall amounts are generally 1-3″/ 25-75mm with locally higher amounts and 75% coverage. …
Livestock Report
Live Cattle The August Live Cattle contract opened (113.85) at the 200 DMA (113.975) on Tuesday, July 11, 2017 and dipped down to the session low (113.40) before moving higher for the remainder of the day. The rally took price to 115.425, which is right at moving average resistance. The 8 DMA is at 115.35 and the 13 DMA is …
Daily Gold Report
Gold futures have found a temporary bottom this week so far on two fronts.First the news cycle is awash with political headlines concerning the Trump administration election ties with Russia and secondly ahead of a two day Congressional testimony on the economy from Fed Chair Janet Yellen. Gold’s bounce though has been weak as August futures are only up $5.00 …
Macro Grains, Meats
This is larger Macro big picture swing type trade levels, use stops accordingly. HOW TO READ CHARTS- Look for high or low bars to be on a level exactly. Yes these are that research specific and where computers buy or sell off of. Hogs– possible major top cited 71.44 as OLS olive sell, potent. Below levels 69.00, 66.21**. Hogs up …
Hang’ Em High: Soybean Complex
September Soybeans Let’s consider the possible implications of an apparent daily hanging-man candle in the soybean market. A hanging man is a bearish pattern that forms at the end of an uptrend. It is created when there is a significant sell-off near the market open, but buyers are able to push market back up so that …