Live Cattle On Friday June 22, 2018 the August Live Cattle contract opened at 105.85, traded to the low at 105.525 and then traded up to the session high at 106.60. It settled at1 05.90. It was a quiet session with traders waiting on the Cattle on Feed Report. A rally from the high could see price test resistance at …
Grain Spreads
Beans led the way higher buoyed by a decent rally in soy meal that resulted with spot meal futures contracts higher on the week. Beans finished the week ten cents lower, while corn finished four cents lower. Wheat lost eight cents. Where to from here then? The sizable sell-off earlier in the week that was ignited by tariff saber rattling …
AG TIME
The soy rebounded sharply today. This was due given the recent break. the market will have concerns over the trade wars going forward. There still is a underlying theme that there is a friendly market out there. My report yesterday suggested to take defense up with profits on net short positions. It is possible to rally into the USDA report …
AG TIME time to be nimble
The soy continues to break, the beans and meal both. This is significant. I have been bearish,not due to the rhetoric and trade spat. But, because the numbers from a historic perspective warrant lower prices. I do believe history is the great equalizer. All things happen again. Having said all that I believe it is time to be cautious. Everything …
Livestock Report
Live Cattle On Wednesday June 20, 2018 the August Live Cattle contract opened at 106.50, traded to the low at 106.10 and then broke out to a new high for the move, trading up to 107.625, just above resistance at 107.35. It backed off the high and settled at 106.65. A continuation to the upside could see price test resistance …
Grain Spreads:
Question: Was Tuesday’s spike low to 841 in July beans and 338 in July corn a pre-summer seasonal bottom or is another retest of these levels a possibility down the road? Since Tuesday’s spike lows corn is up 16 cents, beans up 48 cents, and Chicago wheat up 21 cents. I’m not sure how these tariff threats play out as …
AG TIME
Two sided trade today. there are alot of considerations here. The market has broken alot over concerns on the tariffs. This is a significant scenario and will have implications. The largest concern I have looking forward is the production growth. We are growing global carry overs in spite of record demand. Looking at this years crop. I feel we will …
Livestock Report
Live Cattle On Tuesday June 19, 2018 the August Live Cattle contract opened at 10470, traded to the low at 103.30 and then burst higher, consolidated and then made the session high at the end of the day at 106.65. It settled at 106.425. The market tested the 103.00 support level early and held. With other markets (grains, crude oil, …
AG TIME
The beans have broken sharply. The talk is that the tariff threats are the reason. It is my contention that the bean and soy complex in general is bearish. It would appear today that we have marked a low. This may be temporary in nature. The US will impose the crippling tariffs on July 6th. It is my belief that …
Grain Spreads
Common thinking in the grain market has been that the potential for tariffs that may be enacted by China for US Ag products has been the reason for the recent sell-off. To me, the tariff talk can be equated to pouring salt in the wound. In this case of grains the existing wound would be optimal planting and growing weather …