There are two major changes(macro) to be considered that will potentially have a lasting impact on the commodity markets. The first is that the US is making great strides in a economic way. This is true both domestically and globally. This at the expense of emerging markets. This trend will continue for some time in my opinion. The current President …
Gas Leak: June Natural Gas Futures
June Natural Gas Futures I spent some hours breaking down the structural evidence in the Natural Gas Market. Commencing from the lows of around 2.53 seen in the early part of this year I would have no choice but to categorize the pattern as non-impulsive. Currently I have labeled the sequence as a complex W-X-Y correction which to …
AG TIME MORE TO COME
The soy was modestly lower in beans and meal. The oilshare gained. I am lacking much insight today. The soy is at a key level and if beans break through 950-940 is in the cards. I am not a bull , no secrets here. I believe the market is way over supplied and the funds with their buying ability have …
Livestock Report
Live Cattle On Wednesday May 16th, 2018, the June Live Cattle contract opened (102.50) lower, traded to the early low at 102.15 and then rallied to the session high at 103.75. It failed and broke down, trading to the low of the day at 101.65. It settled at 101.825. This is just above support at 101.625. A break down below …
Grain Spreads
KC and Chicago wheat were the best performers in the grain sector today and look to put in potential near term bottoms for now. Shorts drove KC wheat to trend line weekly support at 5.02 yesterday, missing a buy target by a half penny so far this week (low 502.4). Chicago broke past weekly support at 493.2 trading down to …
European Vacation: June Euro Currency Futures
June Euro Currency Futures The recent decimation of the once beloved Euro Currency has appeared to me to have reached a major inflection point. There are numerous geometric lines from different angles converging right in this area along with multiple time frame momentum divergent signals. I believe this would be a favorable location to establish a long …
AG TIME OBJECTS IN MOTION
The soy complex witnessed liquidation. More than this though, the markets are looking at the fundamentals. The Chinese purchases, the currency differences, etc, etc, and saying this price may be way too high. The market I want to watch now is meal. Short term sells are here. The question now with this crush pace? How does meal do. I believe …
Livestock Report
Live Cattle On Tuesday May 15th, 2018, the June Live Cattle contract gap opened (104.525) lower, up ticked to the high (104.575) and collapsed, trading through support (104.20, 103.00) and made the low at 102.225. It bounced off the low and traded in a range (103.825 – 102.825) the remainder of the day. It settled at 102.975. It settled at …
AG TIME – BIG CHANGES COMING ?
Let’s start with the outside markets. The Dollar specifically. The dollar is exhibiting strength. This strength should continue. This has a profound effect on the ag sector. Especially beans at present. It is no secret I am bearish the soy. The markets are oversupplied. And this will continue. It is my belief the meal too is overvalued and the market …
The Alamo: June Live Cattle
June Live Cattle In 1836 Mexican troops launched an assault on the Alamo Mission Mexican killing all the Texian defenders much in the same way the shorts overran the longs at the 104.975 level in today’s late trading action. The Market unable to fight off that critical price stumbled to close limit down at …