New Crop Year for Wheat

Steve Bruce General Commentary Leave a Comment

                                Typically, hot and dry makes the grain markets rally in June and July but this year cool and wet could keep, us from breaking. Weather needs to be perfect from now until harvest to assure decent yields in corn and beans. Wheat harvesting is in full swing over the next 6 weeks in hard and soft red areas and …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The July Lean Hogs contract consolidated within Wednesday’s trading range. The bullish engulfing candle is still in play and a break out above resistance at 88.325 could see price test resistance at 90.45. A failure from settlement (87.875) could see price consolidate within the Thursday range. The Lean Hog Index declined and is at 82.56 as of May 28th …

Grain Spreads: KC vs Chicago

Sean Lusk General Commentary Leave a Comment

For seemingly months Chicago wheat, the soft red winter wheat contract has held a steady premium vs KC wheat, the hard red contract. Rallies or an unwinding of this spread have only met with further selling as Chicago at one point held over a 50 cent premium to KC in early May. Its not uncommon for Chicago to hold a …

Today’s Market Day Report

Scott Gecas General Commentary, Options Leave a Comment

Every day the Market Day Report delivers “live” coverage of agri-business news, weather, and commodity market information from across the world. Scott contributes information on the complete agriculture spectrum with a focus on the option markets. View today’s video

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The July Lean Hogs contract opened below yesterday’s settlement and traded down to the session low at 84.475. It couldn’t take out yesterday’s low (84.325) and reversed course and traded higher for the remainder of the session. It rallied to the session high at 88.325 which is resistance and settled at 87.80. It formed a bullish engulfing candle and …

Grain Spreads:Battle Royal

Sean Lusk General Commentary Leave a Comment

For the last week or so massive short covering in the grain complex has been in full effect led by extreme short positions held by managed money funds. The COT data showed these funds record short in the amount of 735.900 contracts short as of 5/14/19. The combined short encompassed all three wheat contracts, the soy complex and corn. Last …

It’s Still Weather

Steve Bruce General Commentary Leave a Comment

                                It’s not for the faint of heart! Talk of South American grain and beans priced to move into the USA, Southern producers talking about switching from cotton to corn and winter wheat getting a little tough which makes it more likely to work into the feeding channels gave the market a cause for pause today. Strap in because it’s …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

The July Lean Hogs contract continued its breakdown on Tuesday, May 28, 2019. It blew past support at the 85.375 level making the session low at 84.325. It recovered and settled just above support at 85.70. This is a new low for the down move. If support holds, consolidation within the Tuesday range is likely. A breakdown below the low …

Long Way to Go

Steve Bruce General Commentary Leave a Comment

                                We’ve a long way to go this crop year! It’s anyone’s guess as to what figure the USDA releases for planting progress tonight. The “normal” for this week of the year is 91% planted for corn and 62% planted on beans. We’ve been hearing and seeing corn estimates at 70% +/- 5% and beans at 30%, yet beans are …

Acreage Loss

Steve Bruce General Commentary Leave a Comment

                                Weather and Washington will continue to rule the grain world. It is refreshing to see the USDA decouple payments from specific grains/oilseeds yet, the final details as per the three tranches of payments is still to come and we can continue being surprised.  It appears that there are more questions than answers and the USDA appears to be adapting …