Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary December Lean Hogs opened higher and traded to the session high at 64.50. It couldn’t hold the gains and fell back and traded to the session low at 62.80. It bounced and settled at 63.525. Support is at 63.325, 61.80, 59.825. Resistance is at 64.80, 66.55 and then 67.80.   The Pork Cutout Index surged …

Grain Spreads: Beans the Leader

Sean Lusk General Commentary Leave a Comment

Commentary: Remember when the USDA told the market not to expect significant soybean purchases from China until the late Spring/summer time frame? Well it appears that they may be proven correct after all. Whether the Chinese are experiencing food shortages or are living up to some previous trade agreements per the Phase 1 deal remains for debate, its Christmas come …

Soy and Corn Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: SOY: The beans continue to work higher based on the size of the crop. In addition the recent Chinese purchases. The meal market led today based on the fact that Brazil and Argentina will not be sellers of large amounts of meal in the near term. The Brazilian due to being essentially oversold. The Argentinian due to the currency …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary December Lean Hogs is the lead contract as its volume has overtaken the October contract’s volume. December Hogs broke down on Wednesday, trading through support at 61.80 to the session low at 61.25. It was able to bounce and settle above support at 61.975. More profit taking in Hogs as traders lighten positions before the …

Grain Spreads: Corn Follows The Leader

Sean Lusk General Commentary Leave a Comment

Corn futures finally broke rallied past the 3.70 level for its highest close since March. A long time coming. 10.00 beans one reason why along with trend and index following funds that have flipped from a sizable short to approximately a 40 to 50K contract long. Funds and speculators in my view are taking note of crop damage in China …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

                                                                                   Walsh Trading Daily Insights Commentary October Lean Hogs broke down hard, failing to build on Thursday and Friday’s gains. With China and it looks like the rest of Asia saying they will not take pork from Germany the futures market looked poised to continue its surge as the preliminary pricing had futures prices a lot higher than Friday’s settlement. …

Soy and Corn Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: SOY: The beans and meal continued the rally today. There are a couple of reasons for this. The most important driving factor, in my opinion, is that the Chinese have been buyers almost every day. This is a very good thing. It must be considered, with the new export year starting Sept 1, the Chinese in some instances may …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

                                                                                   Walsh Trading Daily Insights Commentary October Lean Hogs traded to a new high for the up move, reaching 61.725. This is just under resistance at 61.80. It settled just below the high at 61.375. China continues to whittle down its frozen state reserves. It will auction 10,000 MT on Friday, September 11. China has auctioned over 540,000 MT of …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

                                                                                   Walsh Trading Daily Insights Commentary October Lean Hogs tested support at the 200 DMA (59.25) on Tuesday, trading down to the session low at 58.775. It recovered and settled above the 200 DMA at 59.90. This is positive to the Hog market, but price must stay above the 200 DMA or a bigger pullback could occur. Hogs made the …

Soy and Corn Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: The soy today was led by the meal closing up 4.5 dollars per ton. This is supporting the crush margins at present. It is important to see where the overall soy numbers are going to fall. It is my thought that the domestic carry will be ample, and the global numbers will continue to expand. The near term fundamentals …