Live Cattle The June Live Cattle contract made another new low for the down move, trading to a low of 106.00 on Friday, March 23, 2018. It is right at the 106.025 support level and could be the key to trade on Monday. A break down below support and price could test the 104.85 – 104.20 support area. Support then …
Texas Hold Em: April Live Cattle Futures
April Live Cattle The cows took in on the chin this week. Monday’s opening set the high and subsequently took out the priors week low falling beneath the the daily cloud support. The market continued its lack luster performance for the remaining four sessions. The next support zone checks in between 115.200 and 114.500. This area marks the …
Ag Opportunities and Risk
The Soy complex is really caught here with many crosswinds. If played properly there is opportunity. The opportunity can disappear in the blink of a eye. The Meal was on fire today. The oil share retreating to 29.3%. The meal is rallying on the thought thatthe Arg crop is low and meal exports are declining. True! The Chinese are looking …
Golden Week, More to Come?
Gold hit highs for the week today ending in the green, having a weekly intraday high today at $1,350 and a weekly intraday low seen Tuesday at $1,306. Today also marked a monthly high for the yellow metal. Quite a move after the FOMC meeting raised interest rates on Wednesday, but this was mostly priced in to the market already. …
X Marks the Spot: US 30yr Bond Futures
30 Year Bond Futures I’ve gotta admit although I expected the bonds to hold the line and establish another leg up I did’t believe they would break thru the 143.20 level. That being said I still contend that this recent advance will ultimately reach for 146.15 to 147. I have currently labeled the last sharp low established at …
Ag
Quiet day overall. President Trump slapped some tariffs . This had little effect. The private guesses on acreage are coming in. Bean acres 1-2 million more. Corn one million less on average. The weather patterns in Arg are wetter . Some are adding a few bushels back. Remains to be seen. The export program from Brazil will cut into the …
Livestock Report
Live Cattle The June Live Cattle contract made another new low for the down move, trading to a low of 106.65 on Wednesday, March 21, 2018. It made an early test of the trendline (109.25) as it opened at 109.00 and up ticked to 109.125 before breaking down and trading through the 108.65 support level. It consolidated near 108.65 and …
Grain Spreads
Moves aplenty in the grain complex since last Fridays close has afforded the hedger and spreader phenomenal opportunities for both futures and options trades. Lets examine what to look for going forward. This includes retracement bounces and further liquidations in beans and wheat that potentially could reveal sizable moves in price in the near term as we near one of …
Metals on the Move After FOMC
The FOMC met the last two days and just released their commentary showing an as expected quarter point raise to the fed funds rate. This was a much anticipated meeting as this was Chairman Powell’s first quarterly meeting as chair and first news conference. Because of long liquidation and profit taking in the USD, which was in the red prior …
Tariff Victims, Grain longs loaded up?
Fast market conditions may have begun. This feels to me like a big meat blow, funds were long. MEAT ALERTS- live, Hogs has an OLB by lows and holding yest. Tariff talk may put nail in coffin for soybean fund longs? @ day puts may be lotto ticket, 2 days into announcement. Are funds really record long in meal? 110,000 …