Gold Futures Don’t be fooled by the title of this article. When I say mine I speak of land mine. I spent some considerable time trying to make sense of the structural makeup of the gold market this afternoon. What struck me most of all was the sequence of non-impulsive moves both rising and advancing from …
Livestock Report
Live Cattle The April Live Cattle contract made a new low for the down move on Tuesday, March 13, 2018. It traded past the March 8th low (120.90) to 120.75, which is just above the 120.50 support level. It rallied from here, trading up to the session high (122.575) at the end of the day. It dipped lower and ended …
Grain Spreads
Wheat/Corn Corn continues to gain on wheat as wheat’s short-lived gains this week were eroded throughout Tuesday’s session. All wheat classes have not seen any follow through buying from the early March rally as profit taking has ensued as corn has held steady. State by state crop ratings that continue to disappoint. The outlook comes as winter wheat crops are emerging …
AG Review
The Beans , Meal , and Oil, all movers today based on fund buying. The weather pattern in ARG will shift and start to see rains this week. There are more scheduled as we move towards april. The rains may help double crop production, The declines should be halted. The Brazilian crop remains huge. Logistic issues have improved and much …
Ag – Where are we now?
The USDA gave us the report. Plenty of beans domestically. Now the debate, where is Argentina? Truly, it means little. The world has 26-28 mmt more than 2.5 years ago. It is ok to try to figure all this out. I would like to say, it is time to look at the other side of the coin. We are producing …
Livestock Report
Live Cattle The April Live Cattle contract opened at 123.30 on Monday, March 12, 2018, made the session high at 123.475 then broke down and traded to the low of the day at 121.275. This is right near support at 121.325 and Friday’s low (121.125). It ended the day at 121.65. Live Cattle has been in a trading range for …
Gold Starting the Week In The Red
Gold traded down into settlement ending midway between the high and low for the session. The yellow metal is currently trading below its 5, 20 and 50 day moving averages indicating a short term bearish pattern but still above the 100 and 200 day moving averages. The other metals are similarly down at midday. May silver futures settled down to $16.536 …
Four Bean Salad: May Soybean Futures
May Soybeans Earlier this year I posted bullish reports on the bean market. my first upside came in at +/-1070. The front month contract topped out last week at 1071 while the May peaked at 1082.4. Both contracts hit sloping channel projections and reached slightly above the pitchfork line. These convergence zones are the levels that I look …
Livestock Report
Live Cattle The April Live Cattle contract opened at 122.125 on Friday, March 9, 2018, then broke down and traded to the low of the day at 121.125. This is right near support at 121.325 and Thursday’s low (120.90). It rallied from here and traded past the Thursday high (123.30), reaching 123.525 and ended the day at 123.25. It is …
Grain Spreads
Soy Complex After a muted reaction following yesterdays WASDE report, beans and meal finally broke. Two takeaways in the soy complex in the near and long-term. The USDA put ending stocks at 555 million bushels. This sis the second highest total ever and just missed the all time high of 579 in the 2008-09 crop year. Secondly, weather in Argentina …