June Live Cattle The cows opened slightly higher pressing up to overhead cross zone resistance at 107. Unable to fortify this level prices stumbled back to turn negative on the day. The market steadily gave up ground to post a low of 105.350 and closed just off the extreme at 105.600. There’s been a lot of back and …
Grain Spreads
Pre-report positioning has been the theme this week as funds unwind long positions in corn soybeans, and soy-meal. The same can be said in my view for wheat as funds long KC unwind while they re-short the Chicago contract. As of May 1st funds were long 177 K of beans and 133 K of meal. As these funds have some …
Livestock Report
Live Cattle On Wednesday May 9th, 2018, the June Live Cattle contract continued to consolidate between the April 30th high (107.825) and the May 1st low (103.825). The Wednesday trade took place with a high of 107.10 and the low at 105.35. It settled near the low at 105.675. It started the day strong, trading above the Tuesday high (106.925), …
AG TIME CORN IN LEADERSHIP ROLE
The markets will await tomorrows usda report. In my humble opinion this report will be significant to the macro outlook of the marketplace. The soybeans remained under pressure today while oilshare gained back a bit. Tomorrow should confirm the ample supply of both old crop and new crop bean supplies. the market will start to focus on a couple things …
Livestock Report
Live Cattle On Tuesday May 8th, 2018, the June Live Cattle contract continued to consolidate between the April 30th high (107.825) and the May 1st low (103.825). The Tuesday trade took place with a low of 104.60 and the high at 106.925. It settled near the high at 106.30. The high was above resistance at106.025 and the low was just …
AG TIME – JUST MARKING TIME
The funds were buyers today on “turn around Tuesday.” The markets made an attempt to rebound after yesterday’s trouncing. A couple factors to watch. The dollar continues to exhibit strength. Considering the record tax intake to the Treasury, the economic outlook continues to impress. This should continue to fuel strength in the US dollar. This will impact the AG sector …
High on the Hog : August Lean Hogs
August Lean Hogs The lean hog market made an early low in today’s session before pressing higher to breach the 30 minute cloud high of 76.800. The contract extended through into the close to settle at 77.775. The recent low of roughly 72.500 established in the final day of last month appears to me to be a B …
Pop Corn : July Corn Futures
July Corn Futures The corn market gave up some of its recent gains over the last two sessions after just missing the first targeted projection of 409. Today’s close 400 3/4 puts the contract just above the previous breakout level of 399. If this breakdown is an a-b-c correction then it should find support at this …
Crude concerns
Crude Oil Hits $70 for the first time since 2014 The recent run up in crude oil continued on Monday , with crude oil futures nudging above $70.00 for the first time in 3 1/2 years. June crude put in a high of $70.84 before falling under $70 a barrel later in the session. The supply story appears to continue …
Livestock Report
Live Cattle On Monday May 7th, 2018, the June Live Cattle contract continued its consolidation between the April 30th high (107.825) and the May 1st low (103.825). The Monday trade took place with a high of 106.275 and the low at 104.85. It settled near the low at 105.175. The high was just above the key level at106.025 and the …