Commentary: The soy closed sharply lower today. Let’s review briefly yesterday’s numbers. The domestic numbers were much as anticipated. The carry drops to 120 mil bu, due to the crush and exports being raised. It is true the shipments relative to sales, thus far, are excellent. The crush as well, has been very strong due to reasonable margins for quite …
Livestock Report
Walsh Trading Daily Insights Commentary April Lean Hogs opened lower and traded down to the session low at 79.40 and then reversed course trading to the high at 80.85. It settled nearby at 80.375. Hogs tested resistance at 80.45 for the third day in a row, settling below it today. It is starting to consolidate as it is way over …
Grain Spreads: Follow the Leader
Soybeans look to be the leader moving forward in the grain sector in my view. Ending stocks came in at 120 million bushels vs trade expectations of 123.Corn ending stocks were lowered just 50 million bushels to 1.502. That was a report day surprise in my view but I think there are whispers within the trade that have old crop …
Grain Spreads: Buying the Dips
Commentary: Corn, Soybeans, and Wheat all broke during overnight and morning business hours, but again found willing buyers on the dip. Corn broke 7 cents to 536, but rallied to close at 552, above key resistance. March 21 soybeans broke all the way to 1342, but finished the day approximately 30 cents higher to close at 1371. Key resistance is …
Livestock Report
Walsh Trading Daily Insights Commentary April Lean Hogs opened higher and then made a weak attempt to take out the Monday low, matching it at 75.375 and then racing higher the remainder of the session. It made the high at the end of the day at 78.225, breaking resistance at 77.80 and then settling above it at 78.075. The high …
Livestock Report
Walsh Trading Daily Insights Commentary April Lean Hogs opened higher made a weak attempt to rally, making the high near the open at 77.30 for the day. Resistance is at 77.80 and it has been containing April hogs keeping it in a trading range for the past week. After the failure to pressure resistance the market grinded lower, testing …
- Page 2 of 2
- 1
- 2