Soy and Corn Market Commentary

walshtrading General Commentary, Grains Leave a Comment

SOY The markets are liquidating. The price action today was led by soyoil. The USDA report tomorrow will be interesting. The stocks number is important. The expectation is for a draw down. However, if the govt finds stocks that would be a surprise and would shock the system. An increase in stocks could lead to further liquidation.  This is of course …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary June Lean Hogs opened higher, traded down to the session low at 104.725 and then rallied to the session high at 106.375. It settled at 106.025. The high is a new high for the up move and it was just below resistance at 106.85. If price can stay above settlement, a test of resistance at …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary June Lean Hogs opened lower, traded down to the session low at 103.725 and then rallied to the session high at 105.60. It settled at 105.225. The trade down to the session low closed some of the gap created on the strong Friday open after the Hogs and Pigs report on Thursday afternoon.  The remaining …

Grain Spreads: Nov 21 Soybeans

Sean Lusk General Commentary Leave a Comment

Commentary One scenario I could see playing out here in the next few weeks could be that funds wash their hands of a portion of their bullish bets after the next two USDA reports only to rebuy the market heading into planting and growing season. I like beans to the long side further out. The USDA has issued whispers for …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary June Lean Hogs gap opened higher, sneaked past resistance at 101.975 to the session high at 102.425 and then consolidated the rest of the session. Traders weren’t able to push price past the March 18 high at 102.50 in front of the Export Sales and The Quarterly Hogs and Pigs Report due out on Thursday. …

Grain Spreads: Two Reports

Sean Lusk General Commentary Leave a Comment

Commentary: In my opinion the bean market is setting up ahead of the quarterly stocks and planting intentions report next Wednesday (3/31) as they did pre WASDE in early February and March. Funds bid the bean market higher into those reports fearing a sizable cut in ending stocks that had the potential to reach an all-time low. In February, the …

Grain Spreads: Bean Oil the Leader

Sean Lusk General Commentary Leave a Comment

Global edible oil supplies are tight, Argentine soybean production remains uncertain, and U.S. supplies should remain tight ahead of this year’s harvest due to a robust export program over the past six months. Corn demand is rising rapidly as China restocks its reserve supplies, and risks are rising for the approaching growing season. The leader has been soybean oil. Interior …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary June Lean Hogs opened higher, rallied past resistance at 100.075 and then broke down to the session low at 99.20. It reversed course and rallied the rest of the day, making the high at 101.375. It settled nearby at 101.25. Cash and cutout prices remain strong and futures prices are responding accordingly. If price can …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary June Lean Hogs is now the lead contract as its volume has overtaken the April contract. June consolidated within Thursday’s break-down candle, forming an inside candlestick. Thursday’s trade saw the high reach 102.50, which hasn’t been reached in a lead contract since September of 2014. The Thursday high also took out the high made in …