Live Cattle On Monday June 18, 2018 the August Live Cattle contract opened at 104.95, traded to the low at 103.975 and then fought its way higher, grinding upwards and making the session high at the end of the day at 105.675 and settling nearby at 105.175. The settlement is just above the 104.85 resistance level. This will be the …
AG TIME
The beans have flat lined a bit here to digest the relationship between the US and China. It is my opinion that the Chinese will give further and a long term deal will be reached. however, to what end. the rhetoric continues to look for every reason except for the obvious for the break. The world is awash in oilseeds. …
Livestock Report
Live Cattle On Thursday June 14, 2018 the August Live Cattle contract opened at 103.50, traded to the high at 103.825 and then fought its way lower, grinding down to the session low at 101.325 and settling nearby at 101.875. The settlement is just above the 101.625 support level. This will be the key for trade on Friday, in my …
Hog Wild : July Lean Hog Futures
July Lean Hog Futures The July Lean hog futures pressed higher in today’s action to close at 82.800. This puts the contract smack on my slopping neckline drawn from the high set in May 2015. The historical volatility reading has given up half of it value from the mid level extreme seen in early August.
Livestock Report
Live Cattle On Wednesday June 13, 2018 the August Live Cattle contract consolidated within the Tuesday range (104.80 – 103.25). The Wednesday range was 104.725 – 103.575. Trading below the Wednesday low could lead to a retest of support at 103.00 and then 101.625. A rally above the Wednesday high could retest resistance at 104.85 and then 106.025. On Wednesday …
Grain Spreads
After a brief opening higher last night, beans and wheat did an about face and moved lower as funds in my view continued to unwind. July beans hit a key trend line on the weekly chart coming in at the 936-939 are this week. Please see chart. The downward trend line comes in at 936 this week and was drawn …
AG TIME – Bear on the Move
The soy was led lower by beans and meal today. After review of the USDA report yesterday. I must say that I was not bullish the bean numbers. To the contrary. I see some real potential mistakes. First, it is probable that the USDA has over stated the exports by 50-100 mil bu. I don’t buy the story the Chinese …
Livestock Report
Live Cattle On Tuesday June 12, 2018 the August Live Cattle contract opened at 104.175 and traded down to the session low at 103.25. This is just above the 103.00 support level. Price grinded higher from the low and made the high at the end of the day at 104.80. It settled at 104.30. The high is just below resistance …
Grain Spreads
New crop corn and soybean ending stocks were the biggest surprises in today’s report in my view. New crop ending stocks for corn came in at 1.577 billion bushels which is the tightest in five years. The USDA has stated that its using a baseline trend line yield coming in at 174 BPA with its export estimate at 2,100 million …
AG TIME summer thoughts
The usda is out of the way. This report is important in my opinion and opens the door for hedging opportunities. The usda lowered the 18/19 domestic carry to 385. This may open the door for a bit of a bounce that in my opinion presents a hedging opportunity. The global numbers remain very large. In addition the Brazilian crop …