On Monday, the June Lean Hogs broke down and tested the 50% retracement level (87.0625) of the all-time high (133.425) and the October 2016 low (40.70). It poked through it and traded down to the low at 86.25. It was a successful test as it rallied and settled above it at 88.50. This is above the key technical level …
Working in Mud and Muck
We’re at that time of year and that phase of crop development when anything can happen and funds are short and farmers are long and we’re waiting to see how it plays out. There was every reason to pummel the wheat market today as the warm and wet forecast for the Heartland is perfect for the crop at this …
Grain Spreads: Wipe Out
Friday’s prospective plantings and stocks in all positions report laid out two major surprises and they were both in Corn. Before I begin, this report was dated March 1, 2019 so I’m pretty sure the USDA did not factor in potential acreage losses from the mass flooding in Nebraska and Iowa. The biggest surprise to many in the trade was …
Ready to Plant
Is a Chinese Trade Deal signing bullish or already in the market? Some say that everything comes out in the wash and if they couldn’t or wouldn’t purchase US origin grains and oilseed other exporters would happily fill the void. There’s always a finite number of bushels in the world and traders know logistics and pipeline inventory and know …