It is my opinion that this week’s rally in crypto currencies like Bitcoin and Ethereum trading higher comes on a few fronts. First, the adaptation of Crypto Currencies by Central Banks specifically in New Zealand and El Salvador adds potential further validity and possible increased exposure into this space. Second, unlike China, the US Fed is not banning Crypto or undergoing a severe crackdown on mining. Thirdly, …
Soy, Corn & Energy Markets Commentary
COMMENTARY: SOY BEANS – The soybean market is rallying today. There are a couple reasons. First the crude market is continuing its higher trade. The second and most important is the bean oil is making a significant move higher. More on that to follow. The beans can feed a bit more off of the vegoil strength. It is important to …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs started the week off on a sour note, breaking down from the open and trading down to support at 83.325 making the low at 82.80. The high was at 85.20, below resistance at 85.325 and the declining 50 DMA at 85.425. The inability to take out resistance put the bears in charge, …
Soy & Livestock Market Commentary
COMMENTARY: SOY BEANS – The bean market continued lower after yesterdays USDA report. It is my thought that this is the start of a protracted move that could last awhile. Essentially the carry domestically moved from tight to ample in one day. This was something I was looking for. The beans will be influenced now not only by the domestic …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs had a successful week for bulls, gap opening higher on Monday and continuing higher for the week before pausing on Friday. The rally saw 2 gaps on the chart as Monday’s low (79.75) was higher than the previous Friday’s high (77.20) and Thursday’s low (84.55) was higher than Wednesday’s high (84.00). The …
Grain Spreads: KC/Chicago Wheat
Commentary Wheat in all classes as been the leader in the Ag sector as the market turns the calendar to October. Fresh inputs from the USDA yesterday showed its all wheat production estimate downward by over 50 million bushels, with hard red winter losing 28 million, other spring losing 12 million and white winter losing 9 million from the August …