Livestock Report

Ben DiCostanzoGeneral Commentary

Walsh Trading Daily Insights Commentary October Lean Hogs tried to rally early in the trading session, reaching the high at 89.45 then breaking down and trading lower the rest of the session to the low at 86.975. It settled at 87.475. Hogs were trying to move higher early, as cattle markets were strong, but a drop in the morning cutout …

Grain Spreads: Beans in the Teens?

Sean LuskGeneral Commentary

Commentary Beans staying in the teens into harvest maybe in jeopardy moving forward. I’m not saying its for certain, just my opinion, but a story here is setting up for a decent correction if key trend line support for November beans at 1282.0 doesn’t hold. A close under could lead to a deeper correction to the 1245/1240 area which were …

Livestock Report

Ben DiCostanzoGeneral Commentary

; Application INI file Walsh Trading Daily Insights Commentary October Lean Hogs opened lower, made the session high at 89.20 and then traded down the rest of the session to the low at 86.60. Disappointing exports, even though they were up from the previous week created negative sentiment in the price action as Hogs couldn’t rally past the August 16th …

Soy & Corn Market Commentary

walshtradingGeneral Commentary, Grains

COMMENTARY:SOY: – The beans were under some pressure today. There are a few considerations . The export pace has been off the last two months. Even with the recent purchases from China over the last week. The overall weather has been improving and more rains are forecast for the next two weeks. The rains, if they materialize, will add bushels …

Grain Spreads: KC/Chicago Wheat

Sean LuskGeneral Commentary

Commentary Tuesday’s  20 cent break in wheat may have been seen as simply profit taking.as the market took a breather. Today’ session featured an overnight break down in Dec KC wheat , now the most actively traded month moving lower to 716.4. However that break coupled with yesterday’s lower close put the market 52 cents lower than last week’s high …

Soy & Corn Market Commentary

walshtradingGeneral Commentary, Grains

COMMENTARY:SOY The soy started higher after the conditions report yesterday showed a further decline. This was a bit of a surprise to the market given the recent rains that have been received. In addition the Chinese have been recent buyers of soy from the US and the southern hemisphere. The bull story coming into the close may be tired. The …

Livestock Report

Ben DiCostanzoGeneral Commentary

Walsh Trading Daily Insights Commentary October Lean Hogs opened lower, made the session high at 88.575 and then grinded lower to the session low at 87.55. It settled at 87.90. After yesterday’s strong close, the afternoon cutout prices tanked and cash prices were lower, putting the brakes on the rally in Hog futures. The up and down movements in these …

Grain Spreads: Nov21/Nov22 Soybean Spread

Sean LuskGeneral Commentary

Commentary Two more flash soybean sales were reported this morning, including 132k tonnes of new-crop beans to “unknown” and 198k to China. This marks the 9th trading day in a row Chins has been in buying. Day two of the 2021 Pro Farmer Crop Tour today has the western leg of the tour checking out irrigated and no irrigated crops …

Livestock Report

Ben DiCostanzoGeneral Commentary

Walsh Trading Daily Insights Commentary October Lean Hogs gap opened higher and surged, nearly going up the limit and making the session high at 89.30. It settled at 89.00. It was a strong session, but Hogs have strong resistance just above that must be surpassed going forward. The declining 21 DMA is at 89.83, there is a gap from 89.70 …

Grain Spreads: Aggressive Adjustments

Sean LuskGeneral Commentary

Commentary USDA surprised the marketplace with an unexpectedly large 2.7% cut in its forecast for U.S. corn production, indicating that persistent dryness in parts of the Midwest has taken a bigger toll on the crop than previously thought and tightening the global supply outlook. The 2.7 percent cut represented a national average Bushels per acre estimate of 174.6. This was …