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Walsh Trading Daily Insights Commentary June Lean Hogs pressed higher on Wednesday, trading up to 107.775 and settling nearby at 107.70. The rally stopped short of resistance at 107.925 and is still well below the recent high at 110.075, which was reached on Monday. We get exports on Thursday morning before the open so this should key trade for Thursday. …

Commentary Global wheat prices are responding to potential new Chinese demand for global wheat supplies. China’s Ministry of Ag put out an announcement addressing its stripe rust problem as a “severe situation.” In my view this admission is significant for a government that still refuses to admit the severity of the current African swine fever problem in its hog herd. …

Walsh Trading Daily Insights Commentary June Lean Hogs opened higher and traded to a new high for the up-move at 110.075. Traders took this as a selling opportunity and proceeded to pummel hogs, taking them down the rest of the session and going down limit at the end of the day. Fortunately, hogs settled down 2.80 at 106.15 so limits …

Commentary Despite old crop (20/21) corn ending stocks coming in at 1.352 billion bushels on last Fridays report, the focus in my view moving forward will be to where new crop stocks (21/22) end up. Old crop pre report estimates were 1.379 billion bushels, so the old crop number was seen as slightly bullish. However we ended report day essentially unchanged …

Walsh Trading Daily Insights Commentary June Lean Hogs opened higher and broke out to the session high and a new high for the up-move at 108.125. It settled nearby at 107.90. The high was just above resistance at 107.925 and settlement was just below it. China’s ASF continues to be continue to be front page news for the hog market. …

Commentary The fear is real. At least it is in my view into Fridays WASDE (supply/demand) report as it relates to soybeans. The March 31stocks in all positions and planted acres report was a bull surprise for new crop beans in my opinion. Planting intentions came in at just 87.6 million acres versus the average trade guess at 90 million. …

Walsh Trading Daily Insights Commentary June Lean Hogs opened higher, rallied to the session high and a new high for the up-move at 107.40. Hogs couldn’t handle success and fell back, trading down to the low of the day at 105.05. It settled nearby at 105.60. The high was between resistance at 106.85 and 107.925. The low was just above …