Walsh Trading Daily Insights Commentary August Lean Hogs is the lead contract as its volume has exceeded the July contract. It continued its fall from grace, trading limit down to 100.70 for the session low and settling at 100.725. The collapse took price below support at the 100 DMA (102.40) and 101.975 and was stopped just above support at 100.075 …
Corn Market Commentary
COMMENTARY: The corn can be broken into two. The old and the new. The nearby spreads are reflecting the tight market at present. The new, while a bit friendly given the current carry, is more concerned with the potential acreage increases. The weather has not been ideal so far for corn. Recent relief has been helpful, and more rains are …
Soy Market Commentary
COMMENTARY: The soy is dialing in the current weather forecasts. The crop conditions dropped yesterday 2%. The market is now 10% points behind last year. However, as I have mentioned, it is early to kill beans. The Chinese made the first purchases recently for beans of late. The Chinese may, in my opinion, reduce US purchases going forward. This could …
Livestock Report
Walsh Trading Daily Insights Commentary July Lean Hogs continued its descent, trading down to 105.70 for the session low before bouncing and settling at 107.05. The low was below support at 106.85, which held as settlement was above this level. The high was at 109.675. A breakdown below the low could see support tested at 104.35 and then 101.975. A …
Soy Market Commentary
BE WELL, COMMENTARY: The markets had a very nice rebound. This was led by beans and oil share. I mentioned yesterday that the oil component may be beaten enough for the time being. There is so much to consider and think through this weekend. Happy Fathers day BTW for all of you out there. I would like to think about …
Livestock Report
Walsh Trading Daily Insights Commentary July Lean Hogs continued its descent, trading down to 108.50 for the session low and settling just above it at 108.675. The low is just above support at 107.925, which is also the May 17th low. The high was at 112.225. A breakdown below 107.925 could see support tested at 106.85 and then 104.35. a …
Grain Spreads: Dec 21 Corn Examined
Commentary New Crop corn dove 40 cents to the key 5.32 support level on a limit down close yesterday. We briefly dipped to 5.30 last night, but with everything else today, rallied back briefly above weekly trend line resistance at 5.70 this week, to close the day and week out at 566.2. Dec 21 corn lost 40 cents on the …
Soy Market Commentary
BE WELL, COMMENTARY: The markets are under heavy liquidation. Was today enough. Remains to be seen. The risk is so high at present. This is important to keep in mind when looking at strategies. There are many reasons at play today. The weather has changed, and moderated. It appears more showers will be received in the next week or two. …
Soy Market Commentary
COMMENTARY: Meal gained as unwinding long bean oil short meal is in force. The oil share has broken approx 4% in the last week. The weather has moderated. The exports have slowed. The crush pace may very well be over stated. The market will eye the acreage at month end for help with the direction. As mentioned yesterday, the weather …
Grain Spreads: Soy Correction
Commentary The soybean complex has been routed the last six sessions as funds have hit the sell button en masse following last week’s WASDE report in my opinion. After making a pre report high at 16.23, July beans have fallen approximately $1.80 to today’s low at 14.42, then firmed slightly to close at 14.48. That is over a 10 percent …