SOY COMPLEX This may prove to be a big month for AG moves. Opportunity and Risk everywhere. The WASDE report this week will put the South American numbers in perspective. This is a key factor going forward. The market may well have dialed in a smaller ARG crop than we will see this week. If this is the case and …
Grain Spreads
What a difference a week makes! I was out of the office last week due to my sons birth. Everybody is doing well at home and for those who have followed our advice in long old crop/short new crop soy and meal spreads have benefited and are also doing well. In the Soy complex the July 18/Nov 18 bean spread …
Corn Maze: May Corn Futures
May Corn Futures In the fall of 2017 I posted several bullish articles regarding corn futures and I have to say it took longer than I thought to get this most recent advance going. However, we have recently reached slightly higher than the first objective of 380. The volatility market did as expected bottom out early this year …
Live Cattle
Live Cattle The April Live Cattle contract tested the rising 100 DMA (122.10) on Monday, March 5, 2018, as t matched it, making the low of the day at 122.10 during the first 5 minutes of the session. It grinded higher the rest of the day, making the high at 123.675 and it ended the session at 123.20. The high …
March Ag Where do we go from here.
SOY COMPLEX Today was a fairly uneventful day when the dust settled. When we leave the month of March we will have a few answers to this puzzle. The USDA will release WASDE this Thursday and we will look at the USDA numbers. In play are the US carry and the production out of South America. The big question is …
Gold Testing Major Resistance
Gold fell on continued support for the U.S. dollar and a rally in the equity markets. The equity markets opened lower on tariff and Italian election fears but shook this off and rallied back into the afternoon. The U.S dollar had much the same experience starting lower and moving higher into afternoon trading. The yellow metal traded right around its …
The Five little Pigs: April Lean Hogs
April Lean hogs The Elliot wave theory claims trends begin and end in five wave. In the April Lean Hog daily price chart is appears that there is a five way pattern stemming from the highs of roughly 77.50 of early January. The apparent final wave of the sequence from last pullback to +/-72 also shows a five …
AG Wrap
The Markets saw a two sided trade today. The old crop soy remains supported by the Argentinian weather situation. There appears to be a few chances for rain in the future. The question now is what is the crop size. Estimates range in ARG 40-45mmt now. The Brazilian crop as high as 117 mmt. The yields apparently are huge. There …
Unstable: April Natural Gas
April Natural Gas When I study the structural evidence stemming from the lows seen in early last month one thing pops out to me and that is its non-impulsive nature. Simply put , it is dramatically sloppy. I therefore believe it is non-sustainable and most likely due to get turned back. The high today at 2.731 came in …
Live Cattle
Live Cattle The April Live Cattle contract broke down below lows from February 9th (122.80) and January 26th(122.025) on Tuesday, March 1, 2018. It traded below the 50 DMA (122.875) and found support just above the 100 DMA (121.975), making the session low at 122.325. It was able to recover and it made the session highs at the end of the …