Live stock Report

Ben DiCostanzo General Commentary Leave a Comment

The February Lean Hogs contract gap opened higher, tested Friday’s settlement at 70.575, making the low at 70.60 and then made its way higher. The rally took price above the December 13th high at 71.55, making a new high at 71.90. It settled nearby at 71.80. This right at the high end of the 71.55 – 71.85 resistance area. Tuesday …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The February Lean Hogs contract spent its ninth day in a row within the December 13th trading range. It opened lower, made the high of the day at 71.025 and then made its way to the 69.90 support level making the low at 69.825. It recovered and settled at 70.575. Price seems to like being in this trading range …

AG THOUGHTS

John Walsh General Commentary Leave a Comment

The bean oil continues its dominant performance. This could temporarily run out of steam given the recent gains. It is important to note however that it typically doesnt pay to predict tops or bottoms. It has been my thought that the oil share would move to the current level. Longer term 38-40% seems possible IMO. There are many dynamics and …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

The February Lean Hogs contract spent its eighth day in a row within the December 13th trading range. It opened higher and made an attempt to make a new high but failed. It traded to 71.50, which is just below the December 13th high at 71.55. Price collapsed with the failure at the high and traded down to the low …

AG THOUGHTS

John Walsh General Commentary Leave a Comment

The markets in general are showing support. The soy is moderately higher led by vegoils. As discussed this could be a long term change. Long term means 3-6 months. There are many positive aspects offering optimism. The most important is probably the China trade deal. There exists a ample supply of soy globally. However, the Chinese under this deal may …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The February Lean Hogs contract gap has traded within Friday’s break out candle for the past two sessions. Friday’s high was at 71.55, right in the middle of the 71.325 – 71.85 resistance zone. Friday’s low was 68.70, right at the 68.75 support level. Tuesday’s high is 71.00 and Monday’s low was 69.075. Tuesday’s settlement (69.85) is just below …

AG THOUGHTS

John Walsh General Commentary Leave a Comment

The soy complex has made gains of late. This strength has been led by the soyoil. The oil share is currently 35.7 % . This area is a target I have spoken of for some time. It arrived. The question now is what next ? It is my thought that the market needs to digest this recent run up. There …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The February Lean Hogs contract gap opened higher, broke out above the 70.05 trading range high and rallied to the high of the day at 71.55. This was just shy of a limit up move and is right in the middle of the 71.325 – 71.85 resistance zone. With the announcement of a phase 1 agreement with China, trader …

ag thoughts

John Walsh General Commentary Leave a Comment

The oil share surged a bit today. This for two reasons. The fundamental picture remains friendly veg oils at present (IMO) and the excitement over a China trade deal. After the close it was announced that phase one has been reached in principal. Now the two leaders (respectively) need to sign the document. It seems possible some details will be …

Grain Spreads: Second Bull Run

Sean Lusk General Commentary Leave a Comment

Now that the December crop report is behind us with hardly any surprises and virtually no adjustments to US crop sizes, the market goes back to watching trade developments with China, and weather in South America. To me these are the two biggest determinants for price. Recent headlines the last 24 hours showing an unprecedented 1.2 billion bushels of corn …