Market Commentary

walshtrading General Commentary, Grains Leave a Comment

The USDA offered few surprises today. There are a few details I think are worth going over as perhaps they are relative in the medium term. The supply and demand did estimate the bean carry for the new crop at 140 million bu, slightly higher than anticipated. Still tight. This assumes a very modest increase in yield. The USDA modeled …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary June Lean Hogs opened lower, traded past resistance at 112.975 to the session high at 113.125 and then broke down to the low at 110.25. The break down to the low filled much of the gap from 110.875 to 109.725. It was able to bounce and it settled at 111.175. The gap has shrunk and …

Grain Spreads: 3 Inputs for Corn

Sean Lusk General Commentary Leave a Comment

Commentary The corn market continues to rally on three fronts in my opinion. First, It is my belief that  market is being supported by speculation USDA will confirm tightening old-crop carryover supplies in Wednesday’s WASDE report from USDA.  This comes amid new-crop inventories that are unlikely to rise much even with more acres and trendline yields in my view. Per …

Soy Market Commentary

walshtrading General Commentary, Grains Leave a Comment

The Markets rebounded in general today. The soy was led higher by product strength. There are a few considerations at present. The USDA will release stocks and acreage tomorrow. The expectation for beans will be a slight reduction in the old crop carry. The new crop carry should hover around unchanged from the previous month. The second factor I am paying attention …

Soy Market Commentary

walshtrading General Commentary, Grains Leave a Comment

The soy complex was under pressure a bit today. The leader to the down side was the bean oil. The thought with bean oil at present is the palm oil stocks are starting to increase a bit. In addition, the Indian situation with respect to covid can and will slow oil consumption. India is the largest veg oil consumer. This …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary June Lean Hogs gap opened lower, closed the gap, making the session high at 112.675 and the then broke down to the low at 111.075. It then consolidated the rest of the session and settled at 112.10. The low tested support at 111.675 and approached the high of the gap at 110.875 to 109.25. The …

Grain Spreads: Wheat Outlook

Sean Lusk General Commentary Leave a Comment

Commentary Wheat keeps pushing higher across all three classes as supply side concerns continue to offset any weakness near term demand. Wednesday at 11am central time, the market gets its first look at 2021/22 ending stocks projections. The average trade guess is 751 million bushels for all wheat, with a range of 644-941, as compared with 852 million this past …

Corn Market Commentary

walshtrading General Commentary, Grains Leave a Comment

The corn market continues to roll. The focus this week has been more related to the new crop. The old crop has not failed, however the July Dec spread has given back approx 30 cents of its inverse. The domestic carry is a feature, of course, as the stocks to usage are supportive. The most friendly aspect of the market …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary June Lean Hogs continued higher, making another new high for the up move at 114.575. It settled near the high at 114.425. The high and settlement was just below the 114.675 resistance level and the price action formed a hanging man candlestick. This could potentially indicate a short-term top if price fails below the 112.55 …

Soy Market Commentary

walshtrading General Commentary, Grains Leave a Comment

The soy has been on a very respectable run. The markets continue to be fueled by the tight domestic carry. This will remain until the new crop is harvested. The global numbers remain ample. That, at present, is not the driving factor. The market remains off the contract highs at present. There are a few considerations here to be mindful …