Commentary Minneapolis wheat futures have scored contract highs in six of the last eight sessions and are poised for weekly gains on tight global supplies and signs of stronger export demand. Export sales for U.S. wheat came in at 567,600 MT, up 70% from the previous week, up 42% from the prior four-week average and surpassing expectations for 250,000 to …
Grain Spreads: Report Thoughts
Commentary Another week brings another change in the balance sheet for both corn and beans. The results are that a big crop just go bigger per USDA. Ending stocks for beans pegged at 320 million bushels and 20 million over the pre trade estimate, while corn came in at 1.500 billion, up from 1.408 last month. USDA raised yield in …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs gap opened lower and broke down to a new low for the recent down move at 77.60. The breakdown to the new low saw price close more of the gap created from the break out rally from September 27th. The gap high is September 27th low at 79.75 to the September 24th …
Soy & Corn Market Commentary
COMMENTARY: SOY BEANS – The beans traded two sided today. The market paused a bit after yesterday’s decline. In my opinion the market has further work to do to the down side. The carry could continue to increase. The demand from the US has slowed. This could last through the first quarter. The Brazilian market should dominate in the export …
Soy Market Commentary
COMMENTARY: SOY BEANS – The USDA report today was important , in my opinion . The domestic market saw the USDA raise the 21/22 production . The demand was adjusted . This shows now a 320 million bushel carry . It has been my suggestion for some time that the carry will rise above 300 million bu . This essentially …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs gap opened lower and broke down to the session low at 79.425. The breakdown to the low saw price dip into the gap created from the break out rally from September 27th. The gap high is September 27th low at 79.75 to the September 24th high at 77.20. Buying came in at …
Grain Spreads: Bean Possibilities
Commentary The balance sheet for beans doesn’t appear to be as tight as it was feared a few months ago. In my opinion talk of “Price Rationing” has been eliminated from the conversation due to ending stocks below 120 million bushels not in anyone’s balance sheet calculation anymore. Last week’s surprise on farm stocks that magically raised yield on the …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs broke down to support early in the trading session, trading to the session low at 80.55. The break down to the low took price to the declining 21 DMA now at 80.475 and the 80.45 support level and this combo provided bulls with an opportunity to get back in the game causing …
Grain Spreads: Bean Oil Surges
Commentary After having topped its pivotal 40-day moving average at 58.73 after today’s opening, December soy oil surged higher. Dec Soybean Oil broke out of its wedge today in my view. Technically the trade in my opinion could be eyeing the next resistance at 63.60. That level represents 50 percent higher for the year. If that level gets taken out the next …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs continued lower on Tuesday, trading to the session low at 81.575 and closing below the 83.325 support level at 82.55. The high was 83.525. The inability to hold support at 83.325 keeps the bears in charge, in my opinion. More follow-through to the downside could see the declining 21 DMA now at …