June Euro Dollar Futures The tittle of this article is not meant to antagonize anyone but rather to describe the possible structural characteristic of the euro dollar futures market. Following a rather robust and boastful impulsive advance that reached the breakdown point of a the previous dominant B wave triangle release level the contract has appeared to me to …
Grain Spreads
As funds pushed both corn, beans, and KC wheat higher for better part of the first quarter and from the early April tariff lows, it seems to me that some profit taking has set in. Managed money came into the week prior long corn, beans, and meal. Nothing new here as they have been long the market for weeks. KC …
AG TIME
SOY – The Beans finished on a down day to end the week with losses. This is fueled by concern over Chinese demand , but also the Brazilian crop has gained in size. As I have stated there is a more than ample supply of beans globally. However, concerns over meal persist. If the meal has a high in beans …
Grain Spreads
Soy Complex Old crop/New Crop bean and meal spreads are under assault and have led the way lower in soybeans today while Bean oil gets a dead cat bounce off of weakness in meal. I believe that beans look heavy here as the domestic carry at 550 million bushels weighs on price while South American basis has fallen some from …
Jumping Beans: July Soybeans
July Soybeans The July Soybeans jumped up in early morning trading activity topping out at 1064 before getting rudely turned back after the opening bell. Prices quickly turned negative as the contract knifed through channel support following through to post a session low at 1050.4. The market finished the session just off the extreme at 1052.6. The day’s …
Live Cattle On Wednesday, April 18, 2018, the June Live Cattle contract consolidated between support at 104.85 and resistance at106.025, with the range at 104.95 low to 105.975 high. Trade was also within the prior 2 trading days ranges, forming an inside candlestick and also a narrow range day. It had the smallest range of the prior 7 sessions. This …
Ag Time
The Beans and Meal were under pressure. There is a ample amount of product available. There are a couple interesting trends that may be worth consideration. The Chinese Hog sector appears to have reached a saturation point. It appears they are in the process of halting expansion. Is it the concern over bean imports,perhaps, or perhaps we have come so …
Livestock Report
Live Cattle On Tuesday, April 17, 2018, the June Live Cattle contract opened (104.25) at the session low and raced to the high (106.175) of the day. This is higher than Monday’s high (105.95) and in a near repeat of yesterday’s trade broke down towards the low. It stopped just short of the low and then recovered, settling at 104.90. …
AG Review
The Meal and Beans up yet again. At present the Brazilian is Cheaper for export meal and beans. The price difference between beans has narrowed to the point that Brazil will gain market share. This will not bode well for US exports. safras today estimated the Brazilian bean crop at 119.2 mmt This is 4 mmt larger than the USDA …
US Grain Weather Summary from WxRisk.com
We are pleased to provide you with the complete US Grain Weather Summary from WxRisk.com CLICK HERE for Part 1 CLICK HERE for Part 2 For those interested in grains, we will hold our weekly Grain & Livestock Outlook webinar on Thursday, April 19th at 3PM CST. REGISTER NOW. If you cannot attend live, a recording link will be sent …