Grain Spreads: Support Holds

Sean Lusk General Commentary Leave a Comment

Commentary The corn and bean markets tested key support levels at 12.85 and 5.30 respectively during Tuesdays session but short covering near the close was featured as support held. Today’s settlement put corn down 24 cents from the Sunday night open high while Nov 21 soybeans are sitting approximately 44 cents from the Sunday night open high. Crop conditions this …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary October Lean Hogs opened lower at the high of the day at 89.575. Hogs traded lower the rest of the session making the low at 88.375. The drop in Hogs took price down to the 88.325 support level and it settled above it at 88.80. A failure below 88.325 could see price test support at …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary October Lean Hogs gap opened higher at what turned out to be the high of the day at 91.425. The high was just a bit above the rising 200 DMA at 91.33 and this proved to be too much for the market to handle, as Hogs quickly fell apart and traded to the early session …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary October Lean Hogs surged on Friday, rallying all session and trading up limit at the end of the session but settling just under it at 90.725. The high was at 90.90 and the low came in at 88.325. the low was right at the key level at 88.325 and the high and settlement came in …

Grain Spreads: Dec 21/Dec 22 Corn

Sean Lusk General Commentary Leave a Comment

Commentary The corn market has stubbornly rejected recent lows of support at the 530/532 area this week. Funds are long over 250K contracts as we near harvest, a sizable and confident position prior to potential seasonal harvest weakness. What is the market telling us? Into month end and a three day holiday Labor Day weekend upcoming, caution is advised here. …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary October Lean Hogs rebounded sharply on Wednesday, trading up to 89.225 and settling at 88.85. The low was at 86.75. The rally took Hogs back into the upper end of its trading range. The range is from yesterday’s 86.05 low to the high on August 20 at 89.775. October Hogs are trading 19.15 below the …

Soy Market Commentary

walshtrading General Commentary, Grains Leave a Comment

COMMENTARY: BEANS – The beans were sharply higher today. The last week witnessed weakness. The market is gaining back. The condition report yesterday showed a 1% decline in ratings. This contradicts the Pro Farmer crop tour that recently released yields 1.5 bu larger than the usda is currently using. The recent rains had most guessing improvement was in the cards. It …

Grain Spreads: Supply and Demand

Sean Lusk General Commentary Leave a Comment

Commentary The bean market was buoyed by strong demand data and another drop in crop condition ratings from USDA. This may have countered Pro Farmer data which predicted yield at 51.2 BPA versus 50 by the USDA the week prior. Uncertainty reigns in my view which in my view could cap near term selling. Outside markets aided as well. News …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary October Lean Hogs gap opened lower and traded to the session low at 86.05. It reversed course and surged to the session high at 87.975 and then worked its way lower the rest of the session and settled at 86.975. Weakness in the pork cutouts have traders worrying about demand for pork as exports have …

Soy Market Commentary

walshtrading General Commentary, Grains Leave a Comment

COMMENTARY: BEANS – The market started sharply higher overnight. As the evening progressed the market eased back. The weekend saw good solid rains produced. These rains should show a positive impact on yield potential. The one positive coming into today was the Palm oil bouncing 1%. This perhaps was the support early. The Pro Farmer tour concluded with the thought …