Soy Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: The beans saw a fairly volatile trade today. The meal had a significant gain relative to bean oil. The soy in general has had a large appreciation. The conditions tonight dropped 3%. This is significant. However, it should be noted that the average is still 2% below the current conditions.  The main point of this is that the bean yield …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

                                                                                   Walsh Trading Daily Insights Commentary October Lean Hogs made a new low at 53.175 and bounced. It traded up to 54.375 before pulling back and settling at 53.60.  There is support at the 100 DMA (53.00) and the gap from the 8/19/2020 high (52.825) to the 8/20/2020 low (53.55). Price needs to hold here or a breakdown to support …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary October Lean Hogs gap opened lower on Friday and kept going almost closing the gap from the 8/19/2020 high (52.825) to the 8/20/2020 low (53.55) while making the low at 53.225. The gap created from the lower open is from Thursday’s low at 55.275 and Friday’s high at 55.075. The low approached support at the …

Grain Spreads: Election and Inflation

Sean Lusk General Commentary Leave a Comment

Major commodity bull markets historically happen every 20 to 25 years, with the last one coming 12 years ago. The Bull cycle that followed the housing crash recession of 2008/09, resulted in a bullish commodity rally in 2010 and 2011. In my view one needs to study prices in 2010 and 2011, from the deflationary panic in late 2008/09. Im …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

                                                                                   Walsh Trading Daily Insights Commentary October Lean Hogs made a new high at 56.70 and then reversed course and traded down to the low at 54.65. It bounced off the low and settled in the middle of the trading range at 55.55. The new high wasn’t able to challenge resistance at 57.025 while the low tested support at 54.775. …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary October Lean Hogs opened higher and tested resistance at 56.10 making the session high at 56.175. This is a new high for the up move but not a breakout as settlement was below resistance at 55.95. This is a positive showing however after two inside trading days with weak closes. A bullish cold storage report …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

                                                                                   Walsh Trading Daily Insights Commentary October Lean Hogs consolidated once again. It traded within Friday’s range forming an inside candlestick. (Friday also formed an inside candlestick – trading within Thursday’s range.) So… Thursday’s breakout move has failed to generate any excitement in the Hog market we are trading within resistance at 56.10 and support at 53.825. It settled for …

Soy and Corn Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: SOY: The soy was quiet overall, the meal was weaker. The market is watching the weather this weekend. The Pro Farmer tour released their estimates and estimate the US soy yield 8/10ths lower than the last USDA number. This is not overly significant in my opinion. However, if the weather remains dry the last week of the month, and …

Grain Spreads: Three Stories

Sean Lusk General Commentary Leave a Comment

Commentary-Rising domestic prices for new crop corn in Ukraine this week reflect concern about the possible negative impact of dry and hot weather on yields and overall output. Despite anticipation for a strong harvest, it is presumed that producers will hold onto their crop as basis levels rise there. The worry is producers will do the same thing they did …

Soy and Corn Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: SOY: The soy was under pressure. There are some considerations here. The weather is important this month especially for beans. There has been some dryness, however the bean yields are currently not reflecting this. The Pro Farmer tour is indicating very positive results thus far. It is possible to continue to add to the carry if the weather finishes …