Walsh Trading Daily Insights Commentary December Lean Hogs recouped most of Tuesday’s decline rallying off the early low at 74.50 to the high at76.05. It settled near the high at 75.95. The rally did little technically, in my opinion as all it did was form an inside candlestick, staying within the Tuesday trading range. The positive aspect is it settled …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs tumbled down to support at 74.25 making the low just below it at 74.075. The high came in early in the session at 76.30. It settled right at support at 74.25. Cash prices continue to decline which is keeping pressure on futures prices. It seems there is plenty near term supply for …
Grain Spreads: KC Wheat May/Sep22
Commentary It is my belief that winter wheat futures are under mild profit-taking pressure after sharp recent gains, overshadowing a decline in crop condition ratings. The USDA last night noted that winter wheat crop was rated 45% “good” or “excellent,” down from 46% a week ago, USDA said yesterday. December Chicago wheat futures overnight reached $8.07, the highest for a …
Grain Spreads: Meal
Commentary The latest CFTC report saw short covering featured in Soy meal. The net managed money short came in at 15,141 contracts per Tuesday October 26th. In the last reporting period per CFTC, the short positions covered 12,128 contracts, while the longs added 4,890 contracts. December is still the most actively traded contract on the Board, but the volume …
Weekly Bitcoin Futures Commentary
Micro Bitcoin futures (MBTX21) recently passed the 66,500 level before pulling back on end of week and month profit taking to close the week and month at 63,010. Recent rallies that pushed the Micro above the 60K threshold comes potentially from investor demand. This demand in my opinion is seen from new ETFs entering the expanding crypto futures sector by …