Live Cattle The February Live Cattle tested support at the 100 (117.35) and the 200 (117.20) DMAs, making the low for the day at 117.375 on Tuesday, January 16, 2018. Price once again respected these support levels and by the end of the session was testing the session high (118.40), reaching 118.30 and ending the day at 118.15. It challenged …
Gold Higher on Equity Volatility and Crypto Market Plunge
Gold Higher on Equity Volatility and Crypto Market Plunge Gold settled higher Tuesday starting the week in positive territory despite the dollar also finishing positive. The major stock indices started the session positive but moved consistently lower throughout the day as underwhelming earnings from Material and Energy companies dragged indices lower. This also corresponded with an uptick in the VIX …
Be Ready to Hedge Beans
This Rally in beans is driven by hope. Hope that the south American crops will dwindle. The reality the net is larger than we started the crop year. Also, this rally is driven by money flow. The funds really want a bean rally. They are pushing the envelope of what the fundamentalist may find appropriate. None the less, we are …
Not so Shiny: March Copper Futures
March Copper Futures About a month ago I wrote a bullish copper report. I know belief we are close to the termination point of this two year advance. The overhead convergence zone on the weekly price chart comes in just below 3.52. Currently It appears that there will be noticeable momentum divergence in multiple time-frames if …
Grain Spreads
Soy Complex Outright beans and meal showed some impressive gains in that they bounced from overnight and morning selling to finish the day positive. It looks to me that old crop/new crop bean and meal spreads have found some buying interest in the near term. Part of it stems from the funds holding sizable shorts in outright beans while a …
Gold Higher On Weak Dollar While Palladium Hits All Time High
Gold Higher On Weak Dollar While Palladium Hits All Time High. Gold settled higher Friday finishing the week in positive territory for the fifth week in a row. The U.S. dollar continues to be the main source of support for the metal as the dollar’s fall also pushed the euro to a three year high. Inflation data came out this …
Gold and Platinum Settle Higher While Silver and Copper Settle Lower
Gold and Platinum Settle Higher While Silver and Copper Settle Lower Gold settled higher Thursday on continued weakness in the U.S. dollar. A Chinese official announced that the news yesterday on slowing U.S. Treasury purchases was unfounded, and supporting that statement, the 30 year treasury auction today saw large foreign demand pushing bond yields down. This continued Gold’s rise from …
South America Grain Weather Issues from WxRisk.com
For the complete Report, CLICK HERE. For those interested in grains and livestock, Walsh Trading hosts a FREE weekly Grain and Livestock webinar. This webinar is hosted by Sean Lusk, Director and Ben DiCostanzo, Senior Technical Analyst with Walsh Commercial Hedging Services. Sean and Ben look at where the markets currently are and more importantly what hedgers and investors should …
Hangin by a Hoof: February Live Cattle
February Live Cattle The February Live cattle market managed to somewhat keep it together and finished down .800 just off the lows of the session. They’re are a few noticeable technical developments as far as I see it. The process of top-down analysis calls for the study of longer term charts and working down to lower time-frames. By …
Grain Spreads
Soy Complex Old crop new crop corn and bean and meal spreads continue to trade range bound into Friday’s key USDA report. While funds press the short side in outright soybean contracts, May/Nov 18, July/Nov 18 and July/Dec Soy meal spreads have barely budged lower. This most likely states that longs are liquidating ahead of the crop report across the …