Cattle futures grinded higher today with the April Live Cattle settling above the 128.10 resistance level and the March Feeder cattle settling above the 50 DMA (144.65) in a quiet trading session. The settlement price for April Live Cattle was 128.30 and March Feeder Cattle was at 144.675. A continuation higher could see price challenge the January 31st high at …
Livestock Report
Anticipation of higher cash prices pushed April Live Cattle higher today as it tested resistance at 128.10 (session high), before settling just under it at 127.925. A breakout above 128.10 could see price challenge the January 31st high at 129.475. Resistance is just above it at 129.825. A failure from settlement could see price revisit support at 126.625. Even with …
Grain Spreads: Weather and Politics
What report? Lacking months of data by the USDA could of meant a bigger protracted move in grains today with today’s WASDE report. It was not to be as volatility waned, as the trade realizes that US trade reps are in China early next week to potentially reach or come close to finalizing and agreement ending tariffs between both countries. …
AG TIME usda out of the way
The USDA report was a non event I guess. I am surprised that some analysts called the bean report friendly. Some of these comments have me questioning what I think I know from a historic perspective. The US carry is 910 million bushels. a 22% stu ratio. Up from 300 in 16/17. That is a 3 times number in two …
Statistical Shangri La
Grain number nerds, like me, are ready to dig into the data which the USDA presents to us tomorrow at 11:00 Chicago time. We’ve had the time to prepare for the figures and as of this writing the consensus among analysts is that the USDA might decrease final production from the November figures in corn and beans as well …
NATURAL GAS OPTION STRATEGY
Natural Gas in my opinion can potentially move lower, last at 2.59 as of this writing. NGJ19 Futures have broken technical’s below 3.00 and 2.75 to move toward 2.10 from this level. Production has passed consumption and data is showing that production levels will stay strong to 2020. The EIA production supply table shows 98.5 BCF/D today vs 88.4 BCF/D …
Livestock Report
Cattle and hog markets consolidated today in a quiet trading session. April Live Cattle resistance remains at 128.10 and support is at 126.625. Trading above 128.10 could see price test the Thursday high at 129.475. A breakdown below 126.625 could see support tested at 125.80. Support then comes in at 124.30. March Feeder Cattle stayed within Monday’s trading range. It …
AG TIME 2 days to go
Well there is not much new regarding the soy today. the market will await the fri usda release. Unless a surprise pops there is to much soy in my opinion to warrant these prices. Friday could confirm this belief or offer something that changes that direction. The global export supply is healthy. The Chinese have purchased a bunch of US …
Livestock report
April Live Cattle worked its way higher today; trading up to 127.75 which is just above the Monday high (127.725). It settled just below at 127.625. Resistance remains at 128.10 and the Thursday high at 129.475. A failure from settlement could see support revisited at 126.625. Support then comes in at 125.80. Cutouts declined to show choice down 0.63 to …
AG TIME ONLY SO MUCH DEMAND
There is much to consider here. The Chinese have followed through on their purchases. The govt released numbers will start to roll this week. It is important to look at global demand as one pie. If the US picks up demand then someone else will loose it. There is no new demand floating around the globe. The amount is contracting …