Grain Spreads: Firm into Weekend

Sean LuskGeneral Commentary

Grain prices rallied Friday as short covering in the soy complex lifted corn and wheat prices to finish the week. Today, beans finished 20 cents higher, soy meal four handles higher,with bean oil up 46 ticks. The net short coming into the week totaled near 100 K shorts of beans, meal. and oil. Uncertain weather outlooks, late plantings in key …

Livestock Report

Ben DiCostanzoGeneral Commentary

   The August Lean Hogs contract consolidated around the 80.45 key level.  It made its high at 81.75 and the low at 79.625. It settled at 80.10. A break out above the high could see price retest the July 10th high at 82.85. A failure from settlement could see price test the 79.075 – 79.10 gap and then the rising …

Watch and Wait on Weather

Steve BruceGeneral Commentary

                                                The dog days of Summer are here!                                                 The next big event is the crop report on August 12 which, we hope, will be given revised acreage figures and our first surveyed yield estimate for corn and beans. After everything we’ve been dealt by the USDA the past few months there’s not a lot of confidence that there won’t …

Livestock Report

Ben DiCostanzoGeneral Commentary

   The August Lean Hogs contract bounced back from Thursday’s debacle. It recovered most of the decline and settled above the 80.45 resistance level at 80.65. It formed an inside candle as it traded within Thursday’s trading range. A break out above the 81.15 high could see price retest the rising 100 DMA now at 82.97.  A failure from settlement …

Grain Spreads: Buying Dips

Sean LuskGeneral Commentary

December 19 corn finished 30 cents higher today from the prior day low while soybeans finished 26 cents higher from the same time period while KC wheat strengthens versus Chicago wheat. Weather and its impact on future yields have the grain markets bid. Corn broke 8 cents yesterday following the USDA 11 am report. 2019/20 ending stocks for corn came …

Livestock Report

Ben DiCostanzoGeneral Commentary

The August Lean Hogs contract made a new high for the up move, trading up to 82.85 for the session high. It pulled back from here as the rising 100 DMA (82.53) provided strong resistance and it settled at 81.725. The 100 DMA and 83.325 should provide strong resistance for Hogs. A failure from settlement could see price test support …

Report Anxiety

Steve BruceGeneral Commentary

                                 USDA reports have been surprising and for that reason they must be respected.  Only conspiracy theorists proclaim that there are sinister works behind the scenes. We sense that the USDA   does an honest job and are as cold, cruel and deliberate with the execution of the interpretation of the given data as possible.  Just the facts, Ma’am!                                 The …

Livestock Report

Ben DiCostanzoGeneral Commentary

   The August Lean Hogs contract made a new low for the down move, trading down to 75.50 during the first 5 minutes of the trading session… Huh…. In a mesmerizing turn around Hogs bulled its way higher and by mid-morning was limit up …yup… limit up for the day… It got there and stayed firm for the rest of …

Grain Spreads: Rolling

Sean LuskGeneral Commentary

The Goldman Roll seemed to be in full effect today as many sectors saw some covering and roll particularly in livestock as both Feeder Cattle and Hogs finished limit up. Grain spreads that have been beaten down like KC wheat vs Chicago wheat rallied and potentially may have seen a bottom as Sep KC rallied 6.6 cents vs Sep Chicago. …

Ahead of Thursday’s Reports

Steve BruceGeneral Commentary

                                Field reports are getting more promising as the corn and bean plants are enjoying the growing degree units and abundant top and sub soil moisture. The question remains as to how long the growing season lasts but, assuming a normal end to the growing season there’s less concern and anxiety every day.  It appears that we could be seeing …