Commentary: The beans were up today following some strength in outside markets. In addition the Chinese made a purchase of 200t tn. This proved to get a bit of excitement going that the Chinese would continue to follow through on the trade agreement. It seems logical that given the covid they have much more reason to follow through on any agreements …
Grain Spreads
Commentary: Wheat seems to be the one food grain that could see a near term supply squeeze in the days and weeks to come in my view. Chicago wheat continues to strengthen on corn as it recently dipped below $2.00 vs corn last week but found buyers as corn futures are in free fall due to lost ethanol demand. However, …
Livestock Report
Walsh Trading Daily Insights Commentary June Live Cattle gap opened lower and went limit down early in the trading session as weakness in outside markets affected the price action. The market grinded higher and by late session it nearly closed the gap created earlier, making the high at 84.80, just .075 away from closing the gap from Monday’s low. It …
Soy & Corn Commentary
Commentary: Today was an historic day in some sense. The crude traded down to negative $40. Yes that is correct a negative. The situation dictating someone will get paid to essentially take the crude. This has ramifications on the global structure of many commodities. The long term scenario needs to be digested as rash decisions are not advised at present. …
Grain Spreads
Commentary: Commodity prices remain under pressure for the most part in my view despite strong rallies in equities that have been impressive. Investors in the equity sector seemingly are in favor of the Administrations phased plan to re-open the economy. In my view a bad plan is far better than no plan at all. There was also some positive news …
Livestock Report
Walsh Trading Daily Insights Commentary With a country-wide re-opening for business plan announced in front of the open, the livestock markets showed early optimism. The Cattle markets opened higher and traded to the session highs, while Hogs opened higher made the low then raced to its high. The Euphoria didn’t last however, as they all broke down with the Cattle …
Grain Spreads
Commentary: Chicago Wheat vs Corn has pushed out to well over $2.00 making a near term high of $2.30 just a few days ago. Today the July/Chicago wheat settled at 2.14 over July corn ZCN. Tight ending stocks for wheat amid a less than certain outcome for the winter wheat crop is a big reason in my view. Corn on …
Grain Spreads
Commentary: Soybeans are starting to see pressure from a lack of demand amid sizable buying of Brazilian beans by China. There is noise in the market from Private crop scouts in Brazil that the size of Chinese purchases in March and April were record large at over 13 million metric tons per month. While China has made some US bean …
Livestock Report
Walsh Trading Daily Insights Commentary Another wild trading session on the livestock front as lower openings were negated by strong rallies, with cattle markets able to hold onto most of their gains while Hogs couldn’t hold their gains. With all the negative issues facing these markets any rally is encouraging. The uncertainty surrounding the markets continues to create wild market …
Soy Commentary
Commentary: The beans remain mid range of the last months trade. The fundamentals are not overly friendly given the global carry. However, the domestic numbers have been supportive. It is possible the Chinese start buying US beans going forward. The Brazilian has dominated over the last couple of months. This month as well. The pace is not sustainable with production …