COMMENTARY: SOY BEANS – The market rallied today. The reasons could potentially include that the global veg oil markets have yet to ease. It is important to note that supply issues are being satisfied, albeit slower than wanted. The export inspections have picked up, and the market appears to be grabbing this as a big deal. It appears important to …
Soy & Corn Market Commentary
COMMENTARY: SOY BEANS – The beans were a bit lower Friday after the recent appreciation in price. The recent sales mostly to China have been better. The weekly sales were just under 2.9 mmt. This is a positive but the Chinese purchases are way off at present. The weather in South America have been beneficial. However, duly noted they are …
Grain Spreads: Resilience
Commentary In my view, December Corn futures rebound the past week again illustrated the resilience of the market’s low-$5.00’s unofficial floor and bolstered ideas harvest lows have been posted. The market could potentially see sideways-to-slightly-higher price action leading up to USDA’s Nov. 9 Crop Production Report. But late-year rallies have historically been modest in my opinion and given the current …
Grain Spreads: Wheat
Commentary Wheat in all classes resumed their gradual climb higher today again led by (HRS) or Minneapolis, with KC and Chicago in tow. Minneapolis wheat contracts made fresh contract highs with achieving the $10 mark on the nearby Dec contract a strong probability at this point before likely continuing higher. In my view U.S. losses in the Spring wheat area …
Soy & Corn Market Commentary
COMMENTARY: SOY BEANS – The beans were higher yet again. Interestingly, the tech picture has not shifted to bullish they way I look at it. The market in my opinion is following a general theme of inflation. This with a general fear of the potential for La Nina. The market tends to focus on what it wants to. The current fundamentals …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs closed the downside gap, paused, and then continued lower taking out support at 76.75 and breaking down to the low of the session and a new low for the down move at 75.925. The high of the session came in at 78.275 as buyers came in after the initial low was made …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs reversed course and traded to the lower end of the trading range on Tuesday. The range is from the Monday high at 79.475 to the Thursday low at 77.25. Tuesday’s range is 78.75 to 77.275 with settlement near the low at 77.40. We still have the the tiny gap in place from …
Soy & Corn Market Commentary
COMMENTARY: SOY BEANS – The beans bounced today led by the soy meal. There really does not seem a reason for beans to be higher at present, in my opinion. The harvest progress is moving along nicely. The Brazilian planting is moving at a fast pace. The weather there has been good. The export pace is behind. The concerns at …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs opened lower and traded to the session low at 77.40. This above the low established last Thursday at 77.25 as buying came in again leaving the tiny gap in place from 77.25 to 77.20. This rally took price to the session high at 79.475. This is just below resistance at 79.80 and …
Grain Spreads: Hanging In Here
Commentary The energy sector, the rally in wheat, and recent strength in corn prices have aided beans here as they remain above 12.00. Whether the market stays above $12.00 is anybody’s guess at this point as there is a strong inflationary commodity tone. Natural Gas has been the leader in energies and to me is the bellwether here. Should its …