Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The February Lean Hogs contract continued its consolidation on Monday. It is now stuck between resistance at the declining 100 DMA (68.54) and support at 66.55. Monday’s range was 68.25 and 66.825. A break out above the 100 DMA could see resistance tested at 69.80. A break down below support could see the rising 21 DMA tested at 65.58 …

AG THOUGHTS

John Walsh General Commentary Leave a Comment

The soy started the week under pressure. The thought is that the US crop will bet out before to long. In addition, The weather in SA has shown improvement and other than a few bad spots all is well. The long term in the market presents some opportunities but perhaps more subdued than past years. The bean carry while lower …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

The February Lean Hogs contract consolidated within Thursday’s trading range. It formed an inside candlestick and is below the declining 100 DMA (68.69) and above the 13 DMA (66.16). The low (66.625) today was above the 66.55 support level. The high was just above the 67.80 resistance level at 68.275. Settlement was at 67.65. This is just below resistance and …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The February Lean Hogs contract continued its attack on the down side, going limit down and settling just above the down limit price at 66.775. The beatdown shows the increasing worry traders have about trade with China. Or, should I say lack of trade with China. Even though sales and exports are strong to China, perception is the US …

Grain Spreads: Wheat Gains on Corn

Sean Lusk General Commentary Leave a Comment

Corn seems to be the weak link in the AG sector as funds in my view have pushed out to a 160 K short. Despite the fact that we are behind in harvest where as of last weekend corn is only at 76 percent harvested nationally, funds have shrugged any supply side concerns and have focused on weak demand. Then …

AG THOUGHTS

John Walsh General Commentary Leave a Comment

The soy under pressure again. The follow through seems slow but steady. The performer remains soy oil again. The oil share showing steady gains , but still off from the targets I perceive as possible. The catalyst is the palm rally. A stagnation in production, coupled with a large pick up in global demand has drawn stocks down to levels …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The February Lean Hogs contract is now the lead contract as its volume is higher than the December contract’s volume. It opened lower and broke down to the session low at69.65. This is just below the 69.80 support level. It recovered slightly and settled at 70.225. If settlement holds a recovery to resistance at 71.325 is possible. A break …

AG THOUGHTS

John Walsh General Commentary Leave a Comment

The soy came under pressure today. The weather has improved in South America allowing for the producer to catch up on planting. There appears at present to be no real outstanding weather threats in the near to medium term. In addition, talk of the US China agreement once again hitting some snags. And finally the talk of next years acreage …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The December Lean Hogs opened unchanged and dipped to a new low for the down move. Hogs recovered and traded to the session high at 64.075, just below resistance at 64.25.  It failed form here and broke down taking out the early low and making a new low for the down move at 62.675. It settled just above the …

Grain Spreads: KC/Chicago Wheat

Sean Lusk General Commentary Leave a Comment

Kc wheat showed some life rallying to new near term highs at 439 on Tuesday. The market gave all the previous days gains back Wednesday, and dipped below 420 Thursday morning, before recovering slightly into the close to settle at 422.0 Dec 19 futures. 422.0 is weekly support and then 418.4 is another level of support on the daily chart. …