Walsh Trading Daily Insights Commentary October Lean Hogs opened lower, rallied to the session high at 91.725 and turned south for the rest of the session. It traded down to 89.975 and settled at 90.125. The pullback took price below support at 90.40 as traders reacted to the cutout values declining in the morning and in front of the export …
Soy Market Commentary
COMMENTARY: The soy complex was under pressure. The recent rains have helped to show improvement overall. The conditions have shown increases this week for beans. This was not expected from the trade. Finally more rain is forecast over the next two weeks. As mentioned, it is my belief rains can increase yields through August. This would change the balance sheet …
Livestock Report
Walsh Trading Daily Insights Commentary October Lean Hogs gap opened higher, closed the gap making the low at 89.775 and rallied the remainder of the session to the high at 91.55. It settled near the high at 91.375. The rally took price past resistance at 90.40 and it pulled away from the rising 200 DMA now at 89.36. These levels …
Grain Spreads: Conditions
Commentary Soybean crop condition ratings were up 2 points in the good to excellent category while the trade was looking for a 1 point downgrade. Yet the ratings for Beans came in lower in Minnesota down three points while the Dakotas and Iowa were mixed. South Dakota rose 4 points, while Iowa and North Dakotas remained unchanged on the week. …
Livestock Report
Walsh Trading Daily Insights Commentary October Lean Hogs opened higher at the low of the session (88.20) and rallied to the session high at 89.825, settling nearby at 89.50. Settlement is just above the 200 DMA at 89.25 on the continuous chart. If price can hold above the 200 DMA, we could see a test of resistance at 90.40. Resistance …