Grain Spreads: Demand Driver

Sean Lusk General Commentary Leave a Comment

Commentary: Longs continue to enter into the Corn market as China continues to make record purchases. Per CFTC data just released, the managed fund long position as of Tuesday January 26th was just over 364K contracts. That was prior to funds in my view pushing the market to new highs in the last three sessions on insatiable demand. On Wednesday …

Soy Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: Let us take a look at the other side of the coin. First, I would like to start by saying that the bean carry is very tight. This is what has fueled the recent historic run up in prices. I would like to remind that the market in beans is up over $25,000 per contract in the last twelve …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

                                                                                   Walsh Trading Daily Insights Commentary April Lean Hogs continued its upsurge trading to a new high at 77.60, stopping just shy of resistance at 77.80. It pulled back and settled at 76.95. If Hogs can hold settlement, a re-test of resistance at 77.80 is possible. Resistance then comes in at 79.80 and 80.45. If futures can’t hold settlement, a …

Grain Spreads: Corn Demand

Sean Lusk General Commentary Leave a Comment

Commentary: Corn exploded higher this AM after drifting lower in the overnight session last night. After making a session low at 5.08, the market rocketed higher in early morning trading, closing at the ten percent threshold higher on the year at 5.32, approximately 24 cents from the low. It is my belief that demand news was the driver. USDA announced …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary April Lean Hogs is now the lead contract as its volume has surpassed the February volume. On its first day as the lead contract, April Hogs opened lower and barreled its way past resistance on the continuous chart at 74.25 to the session high at 74.975. Resistance proved to be too much for Hogs to …

Grain Spreads: Soy Story

Sean Lusk General Commentary Leave a Comment

Commentary: There is talk within the trade that crop conditions are improving in South America somewhat, especially in Brazil. If crop estimates stop declining in South America, it’s my view that funds may limit new buying, especially in soybeans. IHS Markit raised its Brazilian soybean crop estimate by 500,000 MT to 133 MMT, noting positive productivity surprises in states like …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary February Lean Hogs opened higher, made the session low at 66.15 and then rallied the remainder of the session, making the high at the end of the day at 68.50. It settled nearby at 68.425. Wednesday’s trade reversed Tuesday’s loss and it also took out the Friday high, keeping the Lean Hog Index at a …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

                                                                                   Walsh Trading Daily Insights Commentary February Lean Hogs opened lower, made the session high at 68.00 and then grinded its way down to the session low at 66.425. Tuesday’s trade took back most of Friday’s gains, forming an inside candlestick. It settled in the lower end of the range at 66.475, which is below the 66.55 support level. The …

Grain Spreads: Corn Thoughts July21/Dec21

Sean Lusk General Commentary Leave a Comment

Commentary: Managed Funds are nearing a record long in Corn of approximately 370K contracts per the last CFTC released Friday. The record long is 420K contracts. The market has rallied over $2,00 from the August Pre Derecho lows, with half of the rally coming in the last 5 weeks from Mid-December when we posted a 418 low following the December …

Soy & Corn Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: SOY The USDA report confirmed a further tightening of soy stocks. The projected carry now at 140 mil bu. This is significant. The question going forward is the Arg crop. The Brazilian crop at present, according to the USDA, will remain at 133 mmt.  In fairness the weather in Brazil has been relatively speaking decent overall. The Arg weather has …