Report Day: Corn acres were set at 89.1 Mil, vs. 88 in March. Bean acres totaled 89.6, vs. 89 Mil in March. All wheat acres totaled 47.8, up 500,000 from previously via expansion in spring wheat seedings. Winter acres were left unchanged. Durum acres fell slightly. On the surface, beans were slightly lower than expectations while corn was about a …
AG TIME short and long term
The USDA report out of the way. There were no major surprises, just confirmations of what is known. The soybean stocks are confirmed a record at this time. This is of course significant and is a continuation of the growth in oilseed stocks in general. This stock number is not due to China. Rather production growth. The acreage was increased …
AG TIME – Good Things Coming
The beans traded both sides. Tomorrow is the USDA report. All the ex bulls now think the market can’t rebound due to the lack of dialogue with China. Perhaps they are correct. The market has broken a lot. I have expected that. I believe it may be the wrong time of year to press the short side. Don’t misunderstand – …
Livestock Report
Live Cattle On Wednesday June 27, 2018 the August Live Cattle contract opened at 102.50, traded to the early high at 102.925 then grinded lower, trading to the low at 101.65, just above support at 101.625. An end of day rally took price to a new high for the session at 102.95. This is just below the 103.00 resistance level. …
AG TIME
A two sided trade today in beans. The acreage is the next important aspect. The weather has been very ideal. Although it is important to note that the wet weather may be causing some concerns in some areas. This may be nothing in the long run. There is a suggestion of some heat coming in. This will be monitored closely. …
Livestock Report
Live Cattle On Tuesday June 26, 2018 the August Live Cattle contract opened steady at 102.90, traded to the high at 103.725 then broke down, trading through the 103.00 support level on its way to the low at 102.00. It settled at 102.425. A breakdown below the low could see price test support at 101.625 and then trendline support at …
Grain Spreads: The Crying Game
Every year, we export a tremendous amount beans to China. Last year was $14 billion worth and this was the largest single export from the U.S. to China. Therefore the fear here is that alot of these sales could be whisked away for some time until a new deal is constructed or tariffs get cancelled or postponed. That is the …
AG TIME acreage next big thing
The next major consideration will be acreage which is released friday. I dont have alot of new insights today. The market has experienced a significant break. Now, the market needs to digest this before the acreage report. It is also a time of year where the weather will become important if only for a psychological reason. We are due a …
Livestock Report
Live Cattle On Monday June 25, 2018 the August Live Cattle contract gap opened lower at 104.45, traded to the high at 104.90 then collapsed, as the weight of lower cash prices on Friday and the higher placements from the Cattle on Feed report put pressure on futures. The trade situation isn’t helping cattle also. While cattle shouldn’t be affected …
AG TIME
The market revived the downtrend with more talk of tariffs. This is going to be realized within the next two weeks as the deadline is july 6th. It is my personal belief that China will take steps to give Trump something he will accept. I dont believe that China can afford a trade war. There is to much risk for …