Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary June Lean Hogs gap opened higher, made the session low and surged, nearly going up limit to the session high at 109.65. It settled nearby at 109.125. The break out higher took price out of its trading range from 107.075 to 102.975, but it still hasn’t taken out resistance at 109.85 and the April 12th …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary June Lean Hogs is now in a trading range as traders are wary that cutouts and cash hogs may be peaking in the near-term. The trading range is from 107.075 at the high to 102.975 at the low. Tuesday’s settlement was in the upper end of the range at 106.675. If price can take out …

Grain Spreads: Sep21/Dec21 Corn

Sean Lusk General Commentary Leave a Comment

Commentary Included here is a chart Sep 21/Dec21 corn. Old crop contracts continue to out perform new crop as end users chase this market higher amid managed money increasing their position to a record long in my opinion. Whatever corn is in farmers hands for now may remain there for some time. Its my view that they will sell at …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary June Lean Hogs opened strong, well above Thursday’s low and settlement price. It was able to overtake yesterday’s high by a couple of ticks to the Friday high at 105.975. It settled at 105.725. The low was at 104.575. If price can hold above settlement, a re-test of the resistance at 106.85 is possible. Resistance …

Grain Spreads: KC/Chicago Wheat

Sean Lusk General Commentary Leave a Comment

Commentary Frosts and freezes potentially hit U.S. winter wheat areas last week, with many areas of the Plains and Midwest recording low temps for multiple days. Damage assessments will take weeks and won’t likely be fully known until harvest. Based on maturity of the crop and temperature readings, Oklahoma’s crop was likely hit hardest. Per Pro Farmer temperatures there broadly …

Grain Spreads: Last Man Standing

Sean Lusk General Commentary Leave a Comment

Commentary In scanning the grain Board, I’m finding one commodity that is negative on the year. It is soymeal. The reason why its lagging is its inverse relationship to soy oil in my opinion. Near record crush of beans month in and month out domestically has been for the soy oil. Poor Palm oil production in Asia last year, lower …

Livstock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary June Lean Hogs gap opened higher, up-ticked to the session high (106.75) and fell apart. It traded past support at 104.35 to the session low at 103.65. It bounced and settled at 104.525, which is just above support. A strong rally in corn plus worries about Thursday’s export sales report led to the decline in …

Grain Spreads: Bull Inputs

Sean Lusk General Commentary Leave a Comment

Commentary Another leg higher for old crop corn, beans, and bean oil as the Ag rally rages on. This push in the last 24 hours in my view comes as Brazil’s Ag ministry suspended import duties on soybeans, corn, bean meal and bean oil until end of the year. It has given thoughts to tight domestic ending stocks there amid …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary June Lean Hogs recouped most of Friday’s huge decline, trading up from the session low at 101.10 to the high at 105.375 and settling at 104.325. Even with the strong rally, June Hogs formed an inside candlestick, indicating consolidation within Friday’s huge decline. Settlement was below the key level at 104.35. If price can trade …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary June Lean Hogs followed through to the downside on Friday, nearly going down the expanded limit as it made the session low at 100.925. The breakdown closed the gap from the March 25 high at 103.55 to the March 29 low at 103.725 and after some consolidation around the gap area, broke down to the …