There are many considerations here. The dollar is back above 90 on its way to 92. This strength may continue. This is brought up as a consideration moving forward. The beans rallied early on the strength in meal. As we moved through the day we eased on some of the real outside influences. The weather has improved and progress is …
Live Cattle
Live Cattle On Friday April 27, 2018, the June Live Cattle contract started slowly, opening at 104.60, trading down to test support at 104.20 (104.20 session low), then grinding higher to 105.20 by noon central time and pulling back to 104.80, a sleepy Friday trading session. Then bang! Someone fired a shot and cattle stampeded up to a new high …
Grain Spreads
Soy Complex Soy meal has led the complex higher at the expense of bean oil as beans and meal reversed off of weekly support levels to surge higher into the weekend. The rally or pivot higher from the mid-week lows comes on two fronts in my view. First, Argentina who is the worlds largest crusher of beans has made their …
John and the Beanstalk : July Soybean Futures
July Soybean Futures This is no English Fairy tale that I’m referring to but rather a description of my recently published opinions concerning the upcoming price path of the soybean futures. Earlier I had posted comments calling for a hard bounce off the next low. I had targeted that level to be roughly 1040. The futures, however , …
AG TIME
The beans started lower on the day, then rallied due to the meal leading the charge. Beans will follow until meal has put in a high. The main reason for the rally is a concern over the Argentinian meal program due to the drawdown in the bean production. This certainly is an issue. However with the extra carry the US …
Bail Bonds: US 30 Year Bond Futures
US 30 Year Bond Futures The bond market spurted up in today’s activity finishing just off the highs at 142.16 after turning moderately lower in overnight action. It appears to me that the futures established a subset 5th wave low marking an intermediate wave 3 extreme. In my opinion we are now in a minor corrective pattern of …
AG TIME
There is not much to comment on with respect to today’s activity. The feature remains meal strength relative to the complex. I would venture to say that without meal strength beans would be under pressure. The funds remain very long. The concerns over the rosario port will be yet another reason to push meal higher. The weather in the Delta …
Cocoa, LC FC, can’t put em away.
Good Morning Last week while putting ear to the rail I conveyed option trader buzz about VIX up 2% in that blip in Dow to about steady on the year. Is this what mkt prelude meant? Last time KC under $5..00? Maybe. Buy any break against support levels if not on board in my opinion, all opinions in here. …
Livestock Report
Live Cattle On Wednesday April 25, 2018, the June Live Cattle contract tested support at the 104.85 level, making the low at 104.625. It grinded higher from the low, trading up to 105.80 and then tested support again, trading down to 104.825 before trading back to the high at the end of the session. It settled at 105.575 and ended …
Corn Maze: July Corn Futures
July Corn Futures Corn mazes have become popular tourist attractions in North America however the structural maze of the corn market is more like a trader’s trap. Since the termination of the rather robust move to 402.6 (front month continuation) in mid March it has been trading in a series of what appear to be non-impulsive moves …