Grain Spreads: Strong Exports

Sean LuskGeneral Commentary

Commentary: Export Sales for Corn exceeded expectations this week amid a purchase from Mexico this morning for 300K metric tonnes. Net sales of 1,665,600 MT for 2020/2021 were up 53 percent from the previous week, but down 4 percent from the prior 4-week average said the USDA. Mexico was the initial top buyer last week at 555K metric tons while …

Livestock Report

Ben DiCostanzoGeneral Commentary

  Walsh Trading Daily Insights Commentary February Lean Hogs consolidated within Monday’s breakout candle. It traded down to trendline support at 66.075, making the low just below it at 66.00. It rebounded and settled at 66.75. The session high was 67.625. This is just below resistance at 67.80. A breakout above 67.80 could see the Monday high retested and then …

Livestock Reprt

Ben DiCostanzoGeneral Commentary

                                                                                   Walsh Trading Daily Insights Commentary February Lean Hogs broke through trendline resistance and surged to top the 11/5/2020 high (67.60) all the way to the session high at 68.35, briefly going limit up in the session. It couldn’t sustain the high and pulled back to settle at 67.125. This was a spectacular reaction to the bullish engulfing candle and …

Soy Market Commentary

John WalshGeneral Commentary, Grains

Commentary: The week ending on a quiet note. The overnight showed a reasonable jump in prices. The day session settles back. The beans were essentially the leader. The vegoils, due a set back. eased a bit. The long term for vegoils remains friendly in my opinion. The weather over the weekend will be important. The market, in my opinion, has …

Livestock Report

Ben DiCostanzoGeneral Commentary

                                                                                   Walsh Trading Daily Insights Commentary February Lean Hogs opened lower and made a new low at 62.75. Price surged and rallied the remainder of session. It passed Thursday’s high, reaching 65.775 and it formed a bullish outside candlestick and a bullish engulfing candle in the process. This; with a new low and could be the catalyst for a short …

Soy Market Commentary

John WalshGeneral Commentary, Grains

Commentary: The soy complex, as discussed yesterday is in a bit of a tug o war. The meal has been the price leader for some time. This may be changing. The veg oil market in general has been on fire. This is driven by the palm oil stocks at multi year low’s. The oil share has risen from 30% to …

Soy Market Commentary

John WalshGeneral Commentary, Grains

Commentary: The beans rallied again on the tight carry, concerns over South American rain totals, and scenario. Regarding the Chinese demand, there are a couple of things to consider going forward. The beans and meal have been the upside leader. The meal may be separating from the beans. This could signal a top if only temporarily. The global bean demand …

Livestock Report

Ben DiCostanzoGeneral Commentary

                                                                                   Walsh Trading Daily Insights Commentary February Lean Hogs opened lower and made the session low at 64.725 in the opening minutes of trade. It quickly recovered and rallied to the early high at 65.95. It consolidated at the high end of the range and made a new high at the end of the session at 66.00. It settled near …

Grain Spreads: Bean Outlook

Sean LuskGeneral Commentary

Commentary: China is still boosting imports of multiple crops, from multiple countries, with U.S. beans a major beneficiary specifically during  the August-October timeframe. Money also continues to flow into the broader commodity sector in my view. Export sales in the morning will provide more insights to whether Chinese buying is slowing after more almost two weeks of no daily USDA …