Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

The December Lean Hogs opened higher and traded to the session high at 65.975. This was just past the 21 DMA at 65.58. It failed to hold the 21 DMA and collapsed. It traded sown to 62.95, just above the Monday low at 62.925. It settled just above the low at 63.125. A break down below the low could see …

AG THOUGHTS

John Walsh General Commentary Leave a Comment

It is very difficult to find what the market is focused on. The soybeans are approx 50 cents off there high. The soyoil has given back approx 50% of its recent rally. The oilshare has gone from 35.2 to 33.2. This while global vegoils have been rallying. The meal continues to trade back and forth. Looking forward, there are still …

Grain Spreads: Harvest Catch Up

Sean Lusk General Commentary Leave a Comment

Crop progress numbers released this afternoon showed corn at 66 percent harvested, approximately 20 points behind the 5 year average. The delays are mostly in the Northern plains and Great lakes regions. Major laggards on harvest progress include North Dakota at 15, South Dakota at 39, Wisconsin at 30, Michigan at 33, Minnesota at 63, Iowa at 64, and Illinois …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The December Lean Hogs made a new low for the down move. It traded past the October 8th low (63.075) to 62.925. It settled at 63.30. A break down below the low could see price test support at 61.80. A recovery from settlement could see price retest resistance at 64.80. The Lean Hog index ticke higher and is at …

Ag Thoughts

John Walsh General Commentary Leave a Comment

The soy was under pressure this day due to the complacency of the marketplace at present. The market seems to feel there is ample supply. The South American weather while not perfect is overall pretty good. The long range prospects are for more acres. In addition there is still a lack of clarity with the Chinese demand. All of these …

Grain Spreads: What Report?

Sean Lusk General Commentary Leave a Comment

I purposely sat on my hands this week awaiting today’s crop report prior to commenting on market direction. It looks like it could remain that way a little longer. Today’s numbers from the USDA did little to change my purview for price. I’m bullish long term but the near term is suspect. The only bright spot for prices from a …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The December Lean Hogs reversed course from Tuesday’s strong trading session as reports the US-China Phase 1 trade deal could be delayed till December as the terms and venue remain uncertain. Hogs nearly went limit down after touching limit up on Tuesday. It traded down to a low at 64.45 and settled at 64.775. It is still stuck between …

soy thoughts

John Walsh General Commentary Leave a Comment

The USDA report friday should offer some clarification. The soy may not offer any great surprises however. If that be the case then a serious look at the long term should be undertaken. At present the demand scenario may well be overstated. This would have ramifications on the flat price. It is important to look at the Chinese demand. They …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The December Lean Hogs opened lower and made a new low at 63.375, recovered and rallied to the session high at 65.30. It pulled back to settle at 64.525. It is still stuck between resistance at 66.55 and support at 63.325. A break down below settlement could see price revisit the low and then the October 8 low at …

consider all sides.

John Walsh General Commentary Leave a Comment

The USDA will release the monthly report fri the 8th. Some questions may be answered . However I was thinking over the weekend about some macro scenarios. First the beans. I have been a bit neutral beans, friendly bean oil, and bearish meal. The three are just starting to come together with the oil share now at a respectable approx …