Commentary: The soy performed well today if one is in the friendly camp . There are many aspects of the market to consider at present . First, the US carry has tightened. This is significant as long as the Chinese remain buyers . Second , the south american weather has been supportive . It appears the weather at present is …
Livestock Report
Walsh Trading Daily Insights Commentary February Lean Hogs surged from the opening bell and rallied to the session high at 65.85. It came close to going limit up, and settled strong at 65.675. It formed a bullish engulfing candle and follow-through buying could see price revisit resistance at 66.55 and then 67.80. If price can’t hold settlement, we could …
Soy Market Commentary
Commentary: The soy had a nice rebound today. The market has pulled back and this seemed like a day of bottom picking. The next move going forward will be predicated on the weather. The recent rains in South America have shown significant improvement. However, there remains dry areas that will start to feel stress over the next 1-3 weeks. This …
Livestock Report
Walsh Trading Daily Insights Commentary February Lean Hogs continued its slide on Tuesday, making a new low at 64.10. It rebounded off the low and traded up to the high of the day at 66.20. It met strong resistance here as the 21 and 50 DMA’s stifled the rally and it pulled back to settle at 65.60. The 21 …
Grain Spreads:Soymeal Strangle
Commentary Perhaps the fear for the soybean shorts into Thursdays USDA WASDE crop report is that a further cut in ending stocks for soybeans near 100 million bushels down from last month’s 190 million would result in a sizable rally. The recent highs at 12.00 could be eventually be surpassed and that new highs are seen in beans and meal …
Livestock Report
Walsh Trading Daily Insights Commentary February Lean Hogs gap opened lower and tanked. It traded down to support at 64.80, making the low just below it at 64.60. It held support and nearly came all the way back, leaving a tiny gap form Thursday’s low at 66.725 and the Friday high at 66.70. It settled just under the high …
Grain Spreads: Funds Flip Short Wheat
Commentary: Wheat futures finished Friday near this week’s lows after opening higher last night. The market needs to close below 574 next week to eventually confirm further weakness in my opinion as the crop enters dormancy. There is some good news abroad for winter wheat that is garnering headlines and adding potentially adding pressure. The French wheat crop is developing …
Soy Market Commentary
Commentary: The soy had a nice rebound today. The market has pulled back and this seemed like a day of bottom picking. The next move going forward will be predicated on the weather. The recent rains in South America have shown significant improvement. However, there remains dry areas that will start to feel stress over the next 1-3 weeks. This …
Livestock Report
Walsh Trading Daily Insights Commentary February Lean Hogs opened lower traded down to the session low at 67.725. It consolidated near the low the remainder of the session and settled at 67.875. The session’s trade was lackluster and it spent the session at the 67.80 support level, never straying too far above it or below it since the open. …
Grain Spreads
Commentary: Corn bulls may have breathed a sigh of relief as the March futures settled 9 cents off the lows. Given last weeks close, we are still down close to a dime for the week. However, the Thanksgiving holiday in my view sees pre and post-holiday grain buying in seasonal fashion. So the fact that we have a sizable long …