Walsh Trading Daily Insights Commentary October Lean Hogs gap opened higher, surged to a new high for the up move a t 60.95, then tumbled. It closed the gap making the low at 58.875 then rallied to settle at 59.825. Settlement was above the 200 DMA (59.29) which is positive but the candle formed a Doji which indicates indecision. Hogs …
Grain Spreads: Demand in a Supply Side Market
Commentary: Increased demand most notably from China has driven the soy complex bid while minor dips in Corn remain buying opportunities. A falling US Dollar has stoked some inflation here in the grain and livestock sectors in my view as soymeal, wheat, and hogs have seen decent bounces. I think this continues in some shape or fashion into year end …
Soy and Corn Market Commentary
Commentary: SOY: The beans were able to show gains again today. The bean oil was the strongest aspect of the complex today. The market in my opinion may have topped this week. The funds are now holding a sizable long position in beans. The weather has moderated, and the later planted beans will be assisted. The yield may have been …
Livestock Report
Walsh Trading Daily Insights Commentary October Lean Hogs gap opened higher, closed the gap and drifted for the middle part of the session before surging after noon (CT), making a new high at the end of the session at 56.925. It settled at 56.40. This continues the short-term uptrend and if price can overtake resistance at 57.025, it has a …
Livestock Report
Walsh Trading Daily Insights Commentary October Lean Hogs opened higher and rallied into the gap created from Thursday’s low at 55.275 and Friday’s high at 55.075. The rally stopped just short of a gap close reaching 55.20 before settling nearby at 55.025. Resistance is at the gap close, 55.625, 56.10 and then 57.025. Support at the 100 DMA held, now …