Commentary: The corn could have a short term low in place. The Chinese are looking, strong sorghum sales are both helping. The worst case may be over for Ethanol. However, the rebound could be slow. The corn will also watch planting which is fine to date. It does seem probable that China will want to honor phase one commitments. The …
Soy Commentary
Commentary: The soy rebounded today. The Chinese purchased 300 t mt of US beans. The thoughts are we should see more purchases to fill the late summer time slot. This is needed and gave the market a shot in the arm. There are many questions that remain given the overwhelming scenario we have witnessed. The planting progress is on par …
Livestock Report
Walsh Trading Daily Insights Commentary Today’s price action in the June Lean Hogs finished off the bearish Evening Star pattern, in my opinion. I think Hogs will work its way lower in the coming trading sessions. The cattle markets continue to consolidate, with August Feeder cattle trading in the middle of its 130.95 – 123.475 range and June Live Cattle …
Livestock Report
Walsh Trading Daily Insights Commentary June Lean Hogs gapped open higher at the start of Tuesday’s trading session and kept on going. It surged and traded up to its new expanded limit of 5.5 handles, going lock limit at 60.775. It remained there for most of the trading session before collapsing late in the session and nearly closing the opening …
Corn Commentary
Commentary: It is my thought that corn is at a cross road. The fundamentals are bearish without a change. The Chinese are expected to buy to replenish stocks. This reality is needed sooner rather than later. The US planting is moving at a solid pace. This offers little support. The Ethanol industry is on the brink as well given the …
Soy Commentary
Commentary: The beans and meal were both under pressure. The reality of the market is an ample global supply of beans. The domestic carry is ample. The question is will bean acres remain constant. The planting pace is quick thus far. This looks true for both beans and corn. The Chinese are due in for US beans. The Brazilian dominated …
Livestock Report
Walsh Trading Daily Insights Commentary Despite the slaughter problems facing the cattle and hog markets futures prices moved higher on Monday, with Hog futures settling limit up in its June, July and August contracts. Slaughter levels continue to collapse with cattle slaughter at 81,000 and hog slaughter at 318,000 for Monday, April 27, 2020. This is creating growing supply of …
Grain Spreads
Commentary: The demand destruction across various sectors is unfortunately very real as the economy shuts down. Retail Sales which account for over 70 percent of GDP has been sidelined or idled except for some trips to the grocery store by consumers. The destruction in energy and those effects have spilled into most sectors, one commodity that we follow is corn, …
Soy Commentary
Commentary: Some general thoughts given the surreal environment we are navigating. The fundamentals of each market will dictate the price discovery. However it may be of value to consider how quickly the perceived fundamentals can change. Especially given the fact that approx 3 Trillion dollars have been and is in the process of being moved into the economy in one form …
Corn Commentary
Commentary: The corn rebounded nicely today. The corn has shown a strong correlation to the crude. There still remains some concerns given the ethanol slowdown. In addition the lack of use given the global shut down. However, if the crude shows some strength, then the corn may well have set a double bottom in. This could allow for a stabilization …