The soy is experiencing a quiet day overall. The market is digesting the recent break and perhaps consolidating for a minute. The weather looks conducive to bringing home a very large soybean crop. The reality is that we have priced in a realistic price relative to the historic numbers. My contention is that the prices are supposed to move to …
Scale Down
In my view we’re enjoying a fantastic finish of the growing season for corn and beans and the National Weather Service is calling for slightly warmer and wetter than normal conditions in the Heartland in its 6 to 10 day forecast. The state by state condition reports usually receive less emphasis as crops near harvest in my opinion. The market …
Livestock Report
The excitement over the US – Mexico trade agreement withered away rather quickly as October Lean Hogs gap opened higher and then collapsed, trading below the Monday low and the Cattle markets ate into their bullish candles, erasing most of the gains before a late day rally left cattle on firmer footing. The naysayers came out in force on Tuesday, …
Livestock Report
Lean Hogs and the Cattle markets responded positively to the announcement of a trade agreement with Mexico. Lean Hogs traded up limit in the first two contacts and the October Live Cattle briefly going limit up were the highlights for the day. Feeder Cattle traded strong across the board but didn’t come near it up limit levels. Lean Hogs will …
Grain Spreads: Who’s Chasing?
Corn, Beans, and Wheat were down appreciably on the open this morning. Corn and Beans were able to trade-off the lows to finish 1.2 cents lower on Dec corn, while Nov 18 beans finished 7 cents lower. Wheat was the weakest here down 14 cents in Chicago, KC down 16, Minneapolis down 11.4. Managed funds have sustained a long in the …
As new highs are hit, it might be time to go bargain shopping
Everyone loves a bull market. I suppose there are some that do not, but generally speaking people tend to be happy when things go up, particularly their portfolios. Since 2009 investors in all forms have seen unprecedented growth in the equity markets. At times it seemed as if the the stock market was the only place for consistent return on …
Livestock Report – Cattle
With a bearish outlook for the Cattle on Feed report and cash trade all but complete nervous traders pounded the futures markets on Friday, August 24, 2018. Pressing the markets all session, sellers took price down towards support at 106.025, making the low just above it at 106.475 for Live Cattle. Feeders traded below trendline support (146.825) and made its …
AG TIME this shake and bake it makes no sense
The title of this brief article is just a funny scene in the movie talladega nights. It is a comedy so this is meant as humor,yet true from my thought that there are certain aspects of the market that at present are difficult to figure out. I invite people to watch the movie, it is funny. regarding the markets. We …
AG TIME – Thoughts to Fruition
The soy under pressure today. The tariffs are starting. Both the US and China implemented their respective plans today. There will be more forthcoming. The soy yields from the USDA look accurate to under estimated given the field findings from the pro farmer crop tour. The oil world publication estimates the USDA bean yield could go up further. There was …
Livestock Report – Cattle Weakness
Cattle futures broke down hard as Cattle on Feed estimates shook the market with the realization that the “on feed” numbers are expected to remain elevated for the near future. This continues to keep the pricing power in the packers’ hands as cash cattle traded at 173.00 on a dressed basis and 109.00-109.50 for live cattle. It wasn’t a large …