Soy Complex Beans remain resilient. There continues to be enough of a weather worry in Argentina for managed money funds to continue to buy dips. That’s exactly what we saw this week. Needed rains need to show up as forecasted in the central growing areas of Argentina or the crop will suffer further downgrades. The Rosario Grains Exchange in Argentina …
Gold Starts and Ends the Week In The Red
Gold settled down Friday, ending the week in the red with the weekly low occurring today, touching levels not seen since the first day of March. A few announcements came out today that showed strength in the economy resulting in weakness for the yellow metal. Consumer sentiment hit a 14 year high last seen in March 2004. Job openings hit …
Going on a Hike: US 30 year Bond futures
US bond Futures Take a stroll with me as I attempt to lay out a what I believe to be the most likely price path of the 30 year Bond Future. I contend the line in the sand (zone) comes in at 144-143.20. Any choppy trade into this area should hold up in the near future. If …
Lower Loonie?
Recent talks of tariffs and trade wars have the relationships with the US Dollar moving around again. Canada is one of the United States biggest trading partners, and the number one spot for U.S. agricultural exports. Anytime we have seen a hint of that relationship interrupted, the Canadian Dollar tends to weaken against the U.S. Dollar. On top of the …
Bang For Your Buck: US Dollar Index
US Dollar Index It appears to me that the US Dollar has not only reached solid technical support but has established a sub-set 5 wave rally off the recent extreme. It must be stated that the decline stemming from the highs seen at roughly 103.70 also shows signs of impulsiveness making me believe any rebound will ultimately be confronted …
AG recap
The soy closed higher based on funds. The meal was not able to do much. The markets are essentially mid point of the recent rally. Where we go from here is dependent on demand and the planting estimates. The estimates are coming in with a expectation for 1-2 million more bean acres. This rally has helped producers and should be …
Silver Ready for a Breakout?
Silver is coming close to hitting a major long term support line, and is currently in a channel that last time hit the trend line subsequently rallied. Together with a head and shoulders bottom, get ready for a breakout if Silver gets above the 17.50 resistance level. Its currently trading below its 5, 20, 50, 100, and 200 day moving …
Livestock Report
Live Cattle The April Live Cattle contract gap opened (123.00) higher on Wednesday, March 14, 2018. It blew past resistance at 123.125 and rallied to the high of the day at 124.30, just below resistance at 124.70. The high is right at the declining 21 DMA (124.20) and this level prevented price from moving closer to the higher level of …
Grain Spreads
Soy Complex Weather and its future impact on yields along with bearish planting forecasts potentially signalling higher US planting for beans this crop year sent beans and meal significantly lower today. Call it a head fake or reversal, but after moving 6 cents higher in soybeans in early morning trading and five handles higher in meal, beans broke over 20 …
AG Important Opportunities
The Soy under pressure today. The meal loosing to oil. There are some important issues to be considered here. The weather is wetter in Argentina through the weekend . The yield decline will cease. can we add bushels to double crop ? Perhaps. The markets will now start to eye the acres. Private analysts are now reporting estimates of 1-2 …