Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

The July Lean Hogs contract stayed within Monday’s trading range. It was a choppy trading session with price ending higher on the day. The rally couldn’t get above the 8 DMA (86.471) making the high at 86.40. A breakout above the 8 DMA could see price test resistance at 87.06. Resistance then comes in at 88.325. A break down from …

New Focus

Steve Bruce General Commentary Leave a Comment

                                Winter wheat production as of June 1 is released by the USDA at 11:00 on Tuesday. We may be battling over the number of bushels and the quality of those bushels. Wet weather has added bushels in the month of May but wet weather in the months of June and July might  lower test weight and have a very …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The July Lean Hogs contract consolidated within Monday’s trading range. It traded in a narrow range with the high at 85.5925 and the low at 84.25. A rally above the high could see price test resistance at 87.06. A break down below the low could see price test support at 83.325. Support then comes in at 81.15. The Lean …

Grain Spreads: Corn/Beans Pause

Sean Lusk General Commentary Leave a Comment

Corn finished the day one cent higher while beans finished up 3 cents. After an overnight rally of 10 to 14 cents in both markets to 4.36 and 894.4 in corn and beans respectively, the market couldn’t extend and for the second consecutive session we fell back to near unchanged. the overnight rally came on two fronts in my view. …

Pondering

Steve Bruce General Commentary Leave a Comment

                                For your consideration!                                 Wheat likes dry feet!                                  And we’re not receiving what the plant needs as we are harvesting or experiencing harvest delays and that’s hot and dry weather conditions.  Hard red wheat is priced to compete with corn in the interior. Look at the discount schedules and bad wheat tends to be forced into the feed …

Issues With Wheat!

Steve Bruce General Commentary Leave a Comment

                                Numbers of 69 to 75% of the corn crop planted in tonight’s report have been heard and this compares with  the normal of 95%. So, 92.8 million acres projected as of March 1 might fall very, very short when the USDA issues it’s fresh figures on June 28 and then that figure will be questioned given the planting delays. …