Hot Potato

Steve Bruce General Commentary, Grains Leave a Comment

The recent 6 to 10 day forecast for the Heartland is slightly cooler and wetter than normal. Pretty luke warm! September deliveries might weigh on prices as there’s enough of everything everywhere for the next few months. Mother Nature will determine what happens with corn and bean spreads while Chicago wheat remains the special case! After first notice day we’lllook …

Grain Spreads: Bean Plan

Sean Lusk General Commentary Leave a Comment

In looking at the soybean market I think the best plan forward is to have a static long in the market using Nov 20 options while keeping a near term short position for old crop. It comes on two fronts. Optimal growing conditions in the near term could keep this market searching for bottom while a longer term bullish position …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

The October Lean Hogs contract opened higher and up-ticked to the high of the day 64.40. It couldn’t handle success and traded to the session low at 62.40. It bounced at the end of the day and settled at 63.225. The settlement price is below the key level at 63.325 and could dictate direction for Trade on Wednesday. Trading above …

Agreement Soon?

Steve Bruce General Commentary, Grains Leave a Comment

The recent 6 to 10 day forecast is calling for cooler and drier than normal in the Heartland. Could be a little supportive for corn and beans as we need more time to mature the crop this year. Deliveries are approaching and cash values suggest lots of corn and beans on the street while soft red wheat is the new …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The October Lean Hogs contract broke down below the August 5th low going limit down during the trading session. It settled limit down. Trade war escalation by China was the theme for the session. China’s Ministry of Finance said in statement that it would levy retaliatory tariffs on another $75BN in US goods with rates anywhere between 5 and 10%, …

Grain Spreads: Long Term Longs to consider

Sean Lusk General Commentary Leave a Comment

Soybeans and Corn are in search of bottoms here and that’s not unusual for the latter half of August in my view. This year could be different because of the late planted crops that will likely need optimal September weather and perhaps for some acres early October acceptable weather to finish this crop. Crop tour results will be in focus …

Pattern Shift?

Steve Bruce Grains Leave a Comment

The NWS 6 to 10 looks very normal temperature wise and slightly wetter than normal yet the further out forecasts are shifting to cooler than normal. This might give the market a cause for pause. Crop tours are likely to be reporting into headquarters the next few days and early indications are that the crop is immature and would benefit …

Grain Spreads: Long Term Corn

Sean Lusk General Commentary Leave a Comment

In my view you probably won’t see major slippage in next years planted corn crop until they know what it is or isn’t. That won’t be until next summer following planting and early growing season.Near term the USDA seems to be bent on discounting the damage in the Midwest in the Spring /early Summer to protect the end user namely …

Livestock report

Ben DiCostanzo General Commentary Leave a Comment

   The October Lean Hogs contract broke out above Monday’s high (64.475) reaching 65.825 for the Tuesday high. It pulled back from here and settled at 64.975. The high, however, is still within Friday’s trading range. The session low was 63.375, just above support at 63.325. This is the second day of trading within Friday’s breakdown candle. It is still …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The October Lean Hogs bounced nicely off of Friday’s limit down move. It traded up to 64.475 before sliding a touch to settle at 64.025. The rally, however, was just consolidation within Friday’s trading range. It formed an inside candlestick. If the recovery off the limit down move continues and it trades past resistance at 64.80, a test of …