Headline Driven was the theme for the week for grains as beans and wheat pivoted hard from mid week lows to finish higher. Last Friday I was considering hiring a bugler to play TAPS regarding corn, bean, and wheat prices as the USDA submitted overly bearish data in their monthly supply/demand report. Beans looked like the weak link off the …
AG TIME – Many Moving Parts
There are many moving parts in the volatile landscape. The beans are certainly burdened with a record carryover. The Chinese will be sending a delegation to work things out with the US. The South American planting will soon be underway. Some thoughts. It is my belief now, and for some time, that China cannot afford a trade war with the …
AG TIME – Is It Time?
The Beans and Meal are continuing their recovery. Today the Chinese and the US said they would open dialogue regarding the trade dispute. This was viewed as a positive. It is my belief that the recent highs in beans will hold. The Nov 2018 high is 920, the Nov 19 high is 950. The weather is near ideal to finish …
Livestock Report
Live Cattle Packers continue to be able to squeeze producers as box prices are rising and they are still able to pressure cash prices lower, giving themselves a nice profit. With cattle perceived to be at ample levels, packer leverage is high. Even though demand has been high, they are able sell traders on the idea that demand could disappear …
Waiting for Rain!
The information contained on this site is the opinion of the writer and obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in current market prices. We’re at that part of the growing season in the Heartland when we can see …
Livestock Report
Live Cattle On Tuesday August 14, 2018 the October Live Cattle contract traded back into the 112.25 – 108.175 trading range, climbing up to the Monday high (108.85) and settling nearby at 108.725. It stayed above the 107.35 support level again, making the low at 107.90. It also formed a bullish engulfing candle. A break down from settlement could lead …
Waiting Game
This morning’s interpretation of parade of shadows on the cave wall……. It appears like we’re at rest awaiting to see how the balance of the growing season unfolds. In my opinion beans can still benefit, a lot, from some more rains in the Midwest as can the corn which is not in the dent stage…..Per the USDA crop progress report …
AG TIME – The Numbers Speak for Themselves
The Beans rebounded today. Actually unbelievable in my opinion. Now the carry is 750 million plus. The global numbers are 105 mmt plus. All thoughts we have spoken about. The Chinese demand is changing. These are long term shifts. The beans are important, but China will buy alternative proteins – that is already underway. The global protein is on the …
Livestock Report
Live Cattle On Monday August 13, 2018 the October Live Cattle contract broke down below the 112.25 – 108.175 trading range, trading to a low of 107.65 and settling at 108.15. It settled below the key level at 108.65 and the 108.175 low. It couldn’t get below the 107.35 support level on the break down however, so support is containing …
Grain Spreads: Rug Pull
Not a good day for the grain bulls on Friday as the USDA in their infinite wisdom raised ending stocks, production, and yield for corn and beans to the most bearish extremes in my view. Wheat acted as tail of the dog as ending stocks were lowered below the average trade guess, the problem for wheat was that global production …