Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary April Lean Hogs opened higher, traded to the session high at 90.275 and then declined the remainder of the session, making the low at 86.80. It settled nearby at 87.15. The sell-off nearly took Hogs down limit and it completed a bearish evening star candlestick pattern at the top of a strong rally. The break …

Grain Spreads: July/Dec Corn

Sean Lusk General Commentary Leave a Comment

Commentary: Spot corn futures touched $5.40 overnight, the lowest since Feb. 16. May corn futures rallied to $5.59 ¼ earlier this week and at today’s week and monthly close finished at 547.4, up approximately 6 cents higher on the week. The potential for a buying exhaustion after falling short of the contract high $5.72 earlier this month could be concerning …

Soy Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: The soy had a very significant move up today. The move was similar to yesterday. The meal led early. The oil took over and meal failed. The fundamental picture has been supportive. There are some considerations here to take not of. First the beans and meal are not the cheapest in the world at present. This does not mean …

Grain Spreads: Bean Possibilities

Sean Lusk General Commentary Leave a Comment

It looks to me that managed funds are getting comfortable owning beans above 14.00. Today’s action saw funds buy both old and new crop contracts with vigor. However it looks to me that exportable US supplies maybe priced out of the market on this rally, which could make for some erratic trading. Moving forward It’s all about South American weather, …

Soy Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: The soy was very well supported today. The market was led by meal early on. The bean oil, as well as oil share, were the large winners by days end. The market today was supported by the general fundamentals. In addition, talk that Ukraine may need to purchase US beans as the domestic market has tightened. The global veg …

Soy & Corn Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: SOY: The soy is being led by the bean oil. It has been my belief that the bean oil will continue to exhibit strength. Therefore, if correct, oil share will gain. The carry continues to be supportive beans. The USDA outlook forum predicts 7 million more bean acres with 1 million more corn. It is my this thought will prove …

Soy Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: The markets were fairly quiet today. The Meal oil had a correction. At present the oilshare stands at 35%. I am watching this closely. The veg oil market can be a bit more inelastic. The meaning here is that the global stocks remain supportive at present. The oil usage should stay strong through the year. The demand for soy …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary April Lean Hogs opened lower, traded to the session high at 86.45 and then declined the remainder of the session, making the low at the end of the day at 84.625. It settled nearby at 84.90. Hogs spent its second session in a row trading within Friday’s trading range. On Friday, it surged to a …

Soy Market Commentary

John Walsh General Commentary, Grains Leave a Comment

Commentary: The soy rallied back today. I don’t have a long commentary here today. The fundamentals are what they are. The question is are they baked in the cake at these levels. It is a thought for consideration. The market activity today is essentially an inside day. Tomorrow being Friday, a Friday before a holiday weekend. It will be important …

Grain Spreads: Tug of War in Wheat

Sean Lusk General Commentary Leave a Comment

Weather events, export quotas, and an increase in export taxes out of Russia that may extend past June have created more uncertainty in the wheat complex than I can remember. Yesterdays crop report from USDA had all wheat ending stocks at 836 million bushels, unchanged from last month. The breakdown per class had KC wheat ending stocks at 362, up …