Commentary: The soy complex came under selling today. The market is focused on the lack of Chinese purchases. The Chinese have issued licenses. However, the current US soy price is not the cheapest in the world. Thoughts are the buying may not start until the US price is more competitive. The Brazilian and the Argentinian currencies are continuing their decline. …
Soy Complex
Commentary: There certainly is a lot to understand today. The market is awaiting some Chinese demand in the near term. This could spark a bit of a rally in the soy. Some long term questions remain. Will the Coronavirus change patterns long enough to cause a significant change in demand? My personal thought is that it has and is doing …
Livestock Report
Commentary: April Live Cattle came out of the corner throwing punches as it gap opened higher and tested resistance at 112.35 making the high at 112.65. Well, it tired itself out and broke down closing the gap and trading to support at 109.60, making the low at 109.50. It settled at 110.10. The Equity markets were strong as the livestock …
Grain Spreads: Opportunities
Commentary: Amid the chaos in financial markets that have seen extreme volatility in the indices, energy, and precious metal sectors to name just a few, I posit amid the uncertainty that tangible asset areas like grain and livestock will eventually be sought after. In my view, funds that have gone to a “cash position” on a certain percentage of holdings …
Livestock Report
Commentary: April Live Cattle had a great start to the month of March opening higher as the volatile equity markets reversed course off its morning lows. The positive price action in equities caused a sigh of relief and the cattle and Hogs markets showed early strength. The drive higher stalled mid-session and the livestock markets took out their opening prices …