For the complete US and South American Grain Weather Update, CLICK HERE. For those interested in Grains, every Thursday, Sean Lusk, Director Walsh Commercial Hedging Services hosts a FREE Grain Outlook webinar. If you cannot attend live, a recording will be sent to your inbox upon sign-up. REGISTER NOW. If you missed last week’s webinar you may VIEW A RECORDING.
Monday Ag comment
Soybeans and corn- No good comment, 9.72 as we drift around into harvest. SX 9.84 and 9.89.25 if looking for sell levels. May beans hit TL resist at today’s highs. This is long term off the tops. Corn is perpetually at 3.49-ish. Rumblings on Brazil weather but I do not know if true. Bean oil- OLB 32.32 hit and …
Weekly Gold Report
Gold and Silver finished the week mixed as December gold settled 1274.9 down $9.90, while December silver settled at 16.79 up 11.5 cents for the week. Gold slid to two-month lows on Friday before bouncing back to post modest gains for the day. An upbeat reading of the U.S. unemployment rate and wage growth last month supported expectations for a further …
Ag Commentary
The soy complex posting another day of modest gains. The bull case is for the support to continue due to the weather uncertainties in south America. The weather does remain a bit problematic in the short term. There remains time for the weather pattern to shift to the positive for beans. It is still to early. Some facts to consider …
Fourth and Goal: December Live cattle
December Live Cattle Currently I contend that the lows seen on September 22nd marked a fourth wave extreme of an five wave rally which commence at roughly 106.500. If this were the case then a we are witnessing a final fifth wave advance of the sequence which should attack and more than likely extend through the highs of …
Livestock Levels
Live Cattle The December Live Cattle contract found support on a test of the 8 DMA (114.775) making the low at 114.65 on Thursday, October 5. 2017. It grinded higher from the low and made the session high at the end of the trading session, reaching 116.325, just below the 116.55 resistance level. It ended up above the 200 DMA …
Ag Commentary
The soy complex led by beans and meal moved higher today. Concerns over the south American weather, and some disbelief regarding US yields helped underpin. This remains a bizzare year. The market wants to second guess the usda numbers even though the field reports confirm the overall accuracy. The thought is that if the govt is off by 1.5 bu …
Two Stepin : December Live Cattle
December Live Cattle The Dec Live cattle market opened higher today at 115.200 and pressed up to 116.325 just shy of previously mentioned contention level of 116.500. Prices gets rejected rather harshly and fall back through the opening to finish modestly higher for the day at 114.925. It is my opinion that that we have just seen the …
Livestock Levels
Live Cattle The December Live Cattle contract rallied early in the trading session testing resistance at 116.55, making the high just below resistance at 116.325 on Tuesday, October 4. 2017. It broke down from the high and traded down to the day’s low by the end of the session at 114.875. It ended the day at 115.05. It ended up …
Ag Commentary
The harvest continues to roll along at a nice pace. the soy complex may chop around waiting for a confirmation next week of yield from the usda report. A confirmation that yields are holding up may send beans back to test the recent lows in the 9.00 level. The reality as I have said is the domestic and global stocks …