Grain Spreads: Moving Parts Corn

Sean LuskGeneral Commentary

Chinese buying of US corn this week coupled with Dalian corn futures hitting 5 year highs sustained prices for now. Both events seemed to hold back funds from establishing new sizable shorts in the market. Corn futures gapped open lower last Sunday night on bearish weather reports. It has been a very hot July in the Midwest, but needed rains …

Livestock Report

Ben DiCostanzoGeneral Commentary

                                                                           Walsh Trading Daily Insights                                                                                         Commentary     August Lean Hogs did little on Wednesday, forming an inside candlestick with a narrow range. Continuing worries about the large supply of market ready hogs are limiting the upside potential in my opinion. This is despite stabilizing cash prices and cutout prices. The backlog of hogs is keeping price cheap even in …

Livestock Report

Ben DiCostanzoGeneral Commentary

Walsh Trading Daily Insights                                                                                         Commentary     August Lean Hogs tested resistance at 51.80 for the second day in a row, this time falling short with the Tuesday high at 51.675. Hogs broke down and approached support at 49.35, making the low just above it at 49.70. It settled at 49.925. It formed an inside candlestick. A break below the …

Grain Spreads: Gap Fills

Sean LuskGeneral Commentary

Commentary: Included in this post is the Nov 20/21 soybean futures spread. We have been commenting and following this spread for sometime, showing upside resistance and targets that we thought would be tested should soybeans rally. Beans and Corn suffered very weak closes today as a result of increased rain chances in the forecast in both near and long term …

Livestock Report

Ben DiCostanzoGeneral Commentary

Commentary: August Lean Hogs consolidated within Thursday’s trading range. Thursday’s trade saw a close of the 50.60 – 50.35 gap with a high of 51.175. The Friday trade saw sellers come in and take price down to support at 49.35 making the session low at support. It settled at 49.875. The inability to make a new high on Friday and …

Soy Market Commentary

John WalshGeneral Commentary, Grains

Commentary: The soy rebounded today led by the beans and meal. The weather remains in question and offered support. There is little that is unknown today. The weather will play a key with development. It seems important to note that the soy is not in a critical stage at present. The recent run up should be viewed as an opportunity …

Livestock Report

Ben DiCostanzoGeneral Commentary

Walsh Trading Daily Insights                                                                                         Commentary     August Lean Hogs continued lower on Wednesday, trading down to 47.90 and settling nearby at 47.95. Hogs are in a trading range with the low at 47.525 and the high at 50.35. A break below the low end of the trading range keeps the down trend intact and sets the stage for a …

Soy and Corn Market Commentary

John WalshGeneral Commentary, Grains

Commentary: The soy was under pressure today. Modest pressure. The main reason in my opinion was the scattered showers received. In addition, the lack of a clear cut drought pattern. It is my belief the beans may have a bit more of a rally, depending on the weather. The reality remains that the overall crop conditions are doing well and …

Grain Spreads: Value Play Hogs

Sean LuskGeneral Commentary

Commentary: It’s been said when markets can’t break on bearish news they inherently become bullish. I’m switching gears here as I scan the Board looking for perhaps a value or inflation play for the 3rd and 4th quarter. Hogs look cheap to me further out on the calendar. I included a chart of December hogs below. In my view Hogs have …

Soy and Corn Market Commentary

John WalshGeneral Commentary, Grains

Commentary: A couple brief thoughts regarding the markets. I trust everyone enjoyed the fourth. Here we go, the desire to find a hot dry comparison. The 2021 season is drawing attention. First I would say that mother nature is truly unpredictable. Anything is possible. However, it is my thought today that the temperatures overall are normal for this type of year. …