USDA reports that China is the top soybean importer and purchases more than half of the beans grown in the U.S. With the impending tariffs on steel and aluminum, a trade war could be a possibility on the horizon and is certainly something U.S. farmers are talking about. What does this mean, in my opinion, more volatility ahead. The continued …
AG MOVES
The Beans and meal today felt the brunt of the USDA report. The large domestic carry the slow of exports all have an effect. This one may be just getting going. The funds bought and bought on the weather scare and ran this up to a level that appears to be out of whack.The weekend looks to bring a few …
Trade Alert, Silver Showing Short Term Bullish Trend with Long Term Support
Trade Alert, Silver Showing Short Term Bullish Trend with Long Term Support ** Trade Alert ** With a long term support at $16.00 and a short term uptrend there is some opportunity to make a trade on silver. Silver traded above its 10 and 20 day moving averages in today’s session, indicating a short term bullish trend, and a break …
AG Potentially very important day
Wasde released today. As I have said for the past week, this report can put a different perspective on the outlook. That is what has transpired in my opinion. First the domestic carry showed a significant increase to 555 million. The market expected a decline. The exports continue to decline, and further declines may be in the near future. This …
Livestock Report
Live Cattle The April Live Cattle contract traded in a tight range on Wednesday, March 7, 2018, forming a Doji Candlestick and is within the Tuesday range. The high was 123.675, the low 122.60 and it ended at 123.125. It is right at the 8 (123.30) and 50 (123.10) DMAs. It is also ended right on the key level at …
Grain Spreads
Corn/Wheat Last week saw major rallies in all wheat classes led by the Kansas City Hard Red winter contract. No surprise there as drought like conditions continues to plague the western wheat belt. Good to excellent conditions came in as follows from Mondays report. Kansas came in at 13 percent. Oklahoma came in at 6 percent. Texas showed some improvement …
AG OUTLOOK
The markets continued down today. There remains little to be said today. The wasde report tomorrow will answer the immediate questions. What is the South American crop as a whole. How much of a global reduction, if any will there be. The Argentinian numbers become important in the near term. The long term is another story. There is a ample …
Gold Giving Back Yesterday’s Gains
The trading day started with digesting the news of the departure of Trump’s economic adviser Gary Cohn, stepping down from his post last night. Gold opened above yesterday’s close on safe haven demand as the spooked equity markets opened lower on trade war fears amid the turmoil in the economic adviser post. Gold initially started trading upwards after the open, …
Livestock Report
Live Cattle The April Live Cattle contract opened higher (123.325) and ran up to the high of the day (124.825) on Tuesday, March 6, 2018, testing resistance at 124.70 before failing and breaking down to the low (122.45) of the day. It ended the session at 122.80. A break down below the Tuesday low could see the rising 100 DMA …
Paving the Cowpath: April Live Cattle
April Live Cattle The cattle market from a charting perspective can be quite tricky. One who attempts to apply technical analysis must contend with the price gaps that occur in using the nearest contract (continuation) price charts which most likely represent the cash market. Currently it is my that believe that a weekly close below 126 won’t …