After a mostly quiet overnight trade; beans, corn, and wheat spiked higher on rumors that US trade representatives were open to revisiting with the Chinese on trade. More importantly concerns over potential dryness amid surging temps in the Midwest potentially added to the bullish fervor as 90-100 degree temps return to the Midwest this weekend and beyond. Lets be clear …
AG TIME – China Talks Resume
The soy was sharply higher driven by the talk that china has again engaged the US regarding trade wars. It is my contention, and has been mine that the Chinese will have no choice but to give. It may now be upon us. They are suffering although the media here does not report the reality. They cannot afford this. Period. …
AG TIME – Is it Time?
The beans were up but did not follow through. The condition ratings were unchanged. I am noticing some structural things to be aware of. The meal, although higher, the bear spreads are working again. This may be important. Also the oil spreads are attempting to stabilize. It will be important to watch the Indian monsoons. It is my belief we …
AG TIME – What’s Next?
The beans continued the rally. The EU announcement is viewed as positive. The weather may offer some dry areas. Also, there is some speculation that perhaps the Chinese will be forced to settle. Ultimately I believe that is the case, however, it may take a bit of pain first. In the meantime, it is my contention that there are some …
Livestock Report
Live Cattle On Thursday July 26, 2018 the October Live Cattle contract broke out above the 11.25 Wednesday high, trading up to 112.25 for a new high for the up move. It couldn’t conquer resistance at 112.35 and the rally was defeated. Price retreated and then was routed. The selloff took price past the 110.80, 109.40 (Tuesday low) and108.65 support …
AG TIME – Soy High?
The beans jumped on the opening following the EU announcement. While that is good news the net effect won’t be substantial. The gas announcement may be more important in the long run. I have a couple thoughts rolling around at present. The markets have rallied a bit off the low. The $9.00 level basis Nov is an important level. To …
Livestock Report
Live Cattle On Wednesday July 25, 2018 the October Live Cattle contract continued its trade between the 110.80 resistance level and the 108.85 support level. The range was 110.90 high to 109.575 low. It settled at 110.775. In the after-settlement trade from 1pm – 1:05 pm price jumped to a new high for the session and the up move at …
Grain Spreads: Reality TV
I was charting up new crop beans basis November this afternoon and in the background on TV was the President of the EU and President Trump both announcing that the trade war is over. Although some details need to be ironed out among them steel and aluminum tariffs, Trump announced that the EU among its concessions will buy more US …
AG TIME – Much to Consider
The market traded both sides today. Obviously there are alot of considerations to understand. It appears the govt program to assist the farmer could equal 120-to as much as 150 per bu in payments. This is being considered as a one time payment. If this plays out, which I believe it will, it would put beans near $10.00. This will …
Livestock Report
Live Cattle On Tuesday July 24, 2018 the October Live Cattle contract traded between the 110.80 resistance level and the 108.85 support level. The range was 110.725 high to 109.40 low. It settled at 110325. It has formed a ledge as the past 4 trading sessions traded in similar ranges. All 4 sessions have consolidated around the July 18th rally …