Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary July Lean Hogs rallied early in the trading session, nearing resistance at the 100 DMA on the continuous chart (61.58), making the high at 61.175. Selling came in and pressed price lower and it settled in the lower end of the trading range at 59 .825. Support on Thursday is at 58.25, 57.025 and then …

Grain Spreads: No Rush

Sean Lusk General Commentary Leave a Comment

Commentary: I’m posting two charts here with a few thoughts on corn and beans moving forward. The USDA in their last two supply/demand reports assumed sizable demand for Soybeans from China and assumes a bumper crop this year for Corn. It also assumes record global ending stocks for Wheat. I pay little heed to their global wheat estimate as they …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary Livestock markets started the holiday shortened week on a strong note as August Feeder Cattle settles limit up for the session and July Hogs go limit up and settle just shy of limit up. August Cattle was rallied to the top of its trading range but couldn’t reach 100.00. July Hogs settled at 59.575, just …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary July Hogs gave back most of Thursday’s gains as the futures market couldn’t overtake resistance at the 50 DMA (57.04) on the continuous chart. The Friday high was just below the 50 DMA at 57.00. It was a quiet trading session as traders seemed to be eager for the Memorial Day week-end to start. Trading …

Grain Spreads: No Fear

Sean Lusk General Commentary Leave a Comment

“There’s too much of everything” and “rain makes grain” have been the bearish theme’s in grain and livestock this Spring. A shift in market psychology is needed for the Bulls to regain some semblance here or it will be only a matter of time until we see Corn with a $2 handle and Soybeans with a $7 handle in my …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary June Hogs has grinded lower the past three days and is near the Thursday low (56.175). Tuesday’s trade took price to a low at 56.55 and a nearby settlement at 56.65. Support is at the Thursday low and then 54.775. Resistance is at 57.025 and then 58.25. Slaughter levels continue to recover and are well …

Grain Spreads: Christmas in May

Sean Lusk General Commentary Leave a Comment

Commentary: The USDA today announced another round of farmer aidpayments based on either half of 2019 production, or total onfarm stocks as of January 15th, at 45 cents per bushel for soybeans,32 cents for corn, and 18 cents for hard red spring wheat. Fundingwas also announced for payments to specialty crop and livestockproducers. These payments come in the form of …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary June Hogs made a few attempts to rally on Friday, but ultimately settled in negative territory at 57.875. It was able to recover from Thursday’s new low as it formed an inside candlestick and settled above the 50 DMA (57.76). Slaughter levels have recovered and are well above last week’s low numbers. It has a …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary The livestock markets were pummeled on Wednesday, with cattle markets reversing Tuesday’s gains and Hogs breaking down to a new low. June Hogs broke down below support at 59.825 and traded down to the 50 DMA at 58.01, making the low at 57.70. It settled below the 50 DMA at 57.875. The only positive outcome …

Corn Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: The corn was a bit of an inversion to beans today. The old crop stocks were 2098 bil bu. Smaller than anticipated. While the new crop was estimated at 3318 bil bu. The old crop offered support  today with the market trading up 5 cents. The funds are (approx) short 200 t bu. This coupled with the fact the Chinese …