Grain Spreads: Dec 21/22 Corn

Sean Lusk General Commentary Leave a Comment

Commentary New crop December corn futures traded down to 5.00 this AM before bouncing by mid-morning and rallying 20 cents into the close. Buyers bought with both hands at the 5.00 level and that represents key support for me. With a close under I think new crop down side targets come in at 4.84 which would put new crop corn …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary July Lean Hogs broke out to a new high on Tuesday reaching 117.975 for the session high besting resistance at 117.20 as settlement was above it at 117.50. This continues the bullish lean, in my opinion for hogs as demand for pork continues to sizzle. Pork cutouts continue to make new highs, topping 120.00 for …

Grain Spreads: New Crop Math

Sean Lusk General Commentary Leave a Comment

Commentary New Crop November beans has seen a sizable correction in the last two weeks down approximately $1.14 in that span. Overall the grain market was likely due for a correction as weather has been conducive for planting and demand  for US beans has taken a back seat to South American production. There’s also talk that China is cracking down …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary July Lean Hogs is the lead contract as its volume has over-taken the June contract’s volume.  It opened lower and made the session low at 114.90. It recovered and rallied past resistance at 115.925 to the session high at 116.15. It yet again reversed course and went lower trading down to just a couple ticks …

Soy Market Commentary

walshtrading General Commentary, Grains Leave a Comment

The soy experienced a two sided choppy trade overall.  The market is dealing with the time of year, the South American production, as well as the Chinese decline in US bean purchases. The fact remains at present that the US balance sheet remains tight. The question now is will the carry be ample through the summer. Will the weather remain favorable. …

Grain Spreads: Old Crop Corn/Beans

Sean Lusk General Commentary Leave a Comment

Commentary The corn crop roared back after steep losses this morning. Beans though fell to two week lows and below the 20 percent higher for year threshold at 15.73. July beans fell 36 cents while new crop November fell 30 cents. Basis and cash prices for soybeans have fallen in both Brazil and Argentina as harvest advances. Also pressuring the …

Soy Market Commentary

walshtrading General Commentary, Grains Leave a Comment

The beans were under pressure today. The feature of the day was the domestic basis levels are starting to fade. This indicates enough beans in the pipeline for the time being. The oil share corrected today and settled at approximately 43.78%. This is a reasonable pull back. It is my thought that the bean oil can still trade to the …

Soy Market Commentary

walshtrading General Commentary, Grains Leave a Comment

The bean market is now in a ebb and flow market as I would say.  What I mean by this. The market has been dominated by the soy oil. The oil share closing at approximately 45%. It is my contention that oil share can make its way to approximately 50%. There are a few reasons for this. The palm market is …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary June Lean Hogs surged on Tuesday, coming close to going limit up at the end of the trading session making the high at 111.175. The low was at 108.525. Settlement was at 110.65. Resistance is at 111.675. A rally past 111.675 could see resistance revisited at 112.975. Resistance then comes in at 114.675. A failure …

Grain Spreads: KC/Chicago Wheat

Sean Lusk General Commentary Leave a Comment

Commentary There was some noise in the market regarding the potential damage from severe storms that may have done considerable damage to China’s winter wheat crop. It’s my belief that these storms are a rarity as it relates to size and scope. But apparently the damaging storms cover a broad enough area to possibly impact national production. News out of …