Commentary: The stock market was in decline Friday to end the week. The market, however has rebounded off the corona lows. The stocks could set up a broad range here if the lows are in. The US stimulus package is now under way. The effects of capital will be felt in the coming weeks. Don’t misunderstand. These funds at present …
Livestock Update
Commentary: The Live board closed down. The nearby limit again. As indicated Thursday the market is not signaling a low yet. The fundamentals continue to point to potentially further losses. The issue is two fold. First the packer appears to be slowing the slaughter rate. This would cause a backup and continue to pressure prices. Second, the pork market is …
Corn Commentary
Commentary: The corn has so much negative to deal with. One wonders when the fundamentals will be baked in the cake. The early trade Friday saw some buying on crude strength. The prevailing weak market took control. The Ethanol destruction is too much to overcome yet. The positive is that the Chinese purchased 570 t tn of corn. They have …
Soy Update
Commentary: The soybeans are essentially range bound midway in a 60 cent range. The overall demand picture has weighed this week on beans as well as most markets in the AG. The USDA will release supply and demand estimates next week. The question is how much will they reduce exports due to corona, if at all. Looking forward at some …
Livestock Report
Walsh Trading Daily Insights Commentary The cattle and hog markets continued their plunge on Friday as the June and July Hogs and April Cattle markets settled the expanded limit down keeping the expanded limits in place for Monday’s session. Feeder Cattle also were weak but will have normal limits for Monday. Continued uncertainty around the Covid-19 virus continues to …
Softs Commentary: Cotton
Commentary: COTTON The cotton market has broken much of late. The fundamental picture had legs prior to the corona. The market today may have found support below the 49 cent level basis May. The USDA acreage could prove overstated. In addition China coming back on line may be a positive. New retail and clothing sales may be a bit off. However, …
Livestock Update
Commentary: CATTLE The Live market under considerable pressure again today. The cutout values declining considerablly in the last 10 days. There are concerns that are real that the slaughter will continue to slow. The numbers for the week prove this is grounded in reality. The shutting of the JBS plant is of concern as well and falls in line with …
Corn Commentary
Commentary: The corn traded both sides today. The early trade was fueled by rebounds in commodities. Talk of President Trump talking with Russia and Saudia Arabia regarding the Crude situation. The corn has broken a lot. The market continues to hold above the 332 basis March which may prove important. Looking forward there are many private analysts questioning the USDA acreage. …
Soy Update
Commentary: The soy traded both sides today due to outside influence. The soy in the near term will look at the SA production estimates. The Brazilian estimates are coming down. This will open a window for the US to make sales to China. It is possible that the Chinese start to restock and US purchases should be on the buying …
Livestock Report
Commentary: The Livestock markets were hit with another knockdown blow on Wednesday, going limit down in each market with Live Cattle down the expanded limit. The markets continue to be pushed around by outside markets and that despicable microscopic enemy known as Covid-19. Grain markets, Equity markets, Energy markets all were weak as headlines continue to erupt with negative news …