Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary December Lean Hogs gap opened lower and broke down to the session low at 65.825. Cutout prices have fallen this week and it seems traders fear that China is out of our market. We get the export sales report before the open and this will either confirm or disprove that notion. The reality is that …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary December Lean Hogs took Monday’s bullish outside candlestick and ran with it early in the trading session. It gapped opened higher and raced to the session high at 69.65. This is just below resistance at 69.80 and it proved to be too tough a challenge for Lean Hogs. Price collapsed from here and closed the …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary December Lean Hogs started the week on a weak note, making a new low, trading down to 65.30 then was able to garnish some strength making its way higher the rest of the session. It took out the Friday high and traded past resistance at 67.80 to the session high at 67.925. Settlement was nearby …

Soy Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: The soy was higher and gave up as the day moved by. The products were the leader today based on strong global demand. The crush margins are on fire of late. This will keep an inverse on the board for now. In addition, will keep beans moving to the crusher. There is no doubt that the domestic numbers are …

Grain Spreads: Adding Length

Sean Lusk General Commentary Leave a Comment

Commentary: Trend and Index following funds are pushing the envelope as they amass a sizable long position of over 700K contracts this week per CFTC data. That is if you combine all 3 wheat classes, corn, and the soy complex. The buildup comes on a few fronts in my opinion. First, drought like conditions in major global production areas that …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

                                                                                   Walsh Trading Daily Insights Commentary December Lean Hogs made a new low, trading down to 65.70 then reversing course and surging higher. It ended up making the high at 67.225 and settlement was nearby at 67.025. The new low was a successful test of the 21 DMA at 66.05 for it held and price was also able to settle …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary December Lean Hogs made an early run higher, opening strong and rallying to the session high at 70.825. The rally couldn’t be sustained however, as it reversed course and fell to the low of the day at 68.85. Settlement was near the low at 69.20. This looks bad on the surface, but the session just …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

                                                                                   Walsh Trading Daily Insights Commentary It was the December Lean Hogs turn to knocked to the canvass on Tuesday. Hogs were pummeled right from the open and nearly went down limit as profit taking was in full force. Yesterday’s stoppage at the 72.80 resistance level set the stage for fierce selling today, sending price through support at 68.75 to …

Grain Spreads: Demand and Weather Aiding Corn Rally

Sean Lusk General Commentary Leave a Comment

Commentary: As of Oct. 13, managed money accounts were net long 156,928 corn futures contracts, which was the largest net-long position since the third week of July and the biggest long for this time of year since 2012. Much of the fund-led buying spree has been triggered by aggressive export demand. While there were no new daily export corn sales …

Soy & Corn Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: The soy was led higher by the meal today. The Brazilian government has lifted import taxes on both corn and beans. The strong export pace has now worn down the domestic supplies. The internal prices are now increasing. The US meal has been the upside leader. The market flat price, as well as the spreads, has shown a large …