Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary April Lean Hogs consolidated within Friday’s trading range, making the high at 96.30 and the low at 94.725. Settlement came in at 95.70. Cutouts and cash hogs are looking stronger which is being reflected in the rising Indices. Futures are still rich compared to cash so in my opinion consolidation is occurring to allow for …

Soy & Corn Market Commentary

walshtrading General Commentary, Grains Leave a Comment

COMMENTARY: SOY The soy is moving higher for all the reasons discussed yesterday. The vegoil was led higher by the palm at all time highs. The meal bounced in a rather large way based on demand and bean tightness potentially. The weather in South America is the driver and until more is actually realized will continue to be the driver. …

Soy Market Commentary

walshtrading General Commentary, Grains Leave a Comment

COMMENTARY: The soy was sharply higher yet again. The market moved higher throughout the session. The bean oil was again the leader as oil share continues to surge higher. There are a couple reasons as mentioned yesterday for the price increases. First the palm oil has continued to exhibit strength on a lack of production for various reasons. In addition, …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary April Lean Hogs opened lower, eked out a new high for the up move and then fell back as profit taking took over in the Hogs, taking out the Tuesday low in the process. This formed an outside day down candlestick which in my opinion could lead to further selling if the Wednesday low is …

Grain Spreads: Keeping Score

Sean Lusk General Commentary Leave a Comment

Commentary Last week in my opinion, grain prices reacted to LA Nina drought conditions in major growing areas in South America.  Last week, Corn finished up over 20 cents, beans over 40 cents, and almost 50 cents in KC and Chicago wheat. Wheat prices had rallied roughly a dollar in 11 days, largely on the Russia/ Ukraine conflict in my …

Soy Market Commentary

walshtrading General Commentary, Grains Leave a Comment

COMMENTARY: The soy complex bounced today. The market rebounded based on the bean oil strength. The oil share is bouncing, currently at 44.3%. The range over the last month or two was 48% high to approx 40% low. The recent run up in crude oil has put a floor under veg oils. In addition, the global vegoil markets have yet …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary April Lean Hogs opened higher, made the low at 95.575 and raced to the session high at 97.375. It pulled back then rallied into the close settling near the high at 97.25. The rally continues with the April Hogs, as the Tuesday session made a new high for the up move, stopping just above resistance …

Grain Spreads: Beans in the Teens

Sean Lusk General Commentary Leave a Comment

Commentary    Beans closed deeper in the teens today on two fronts. I included a weekly continuous chart and we closed above last Augusts high. It appears they may test the ten percent higher for the year threshold at 1477 sooner than later in my opinion. The rally today comes on two fronts in my opinion.  First, there was noise …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary April Lean Hogs gap opened higher, pulled back to close most of the gap then rallied the rest of the trading session. The gap is from the Wednesday high (91.40) to the Thursday low (91.475). The rally took price past resistance at 93.50 to the session high at 94.475. Price dipped at the end of …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

April Lean Hogs is now the lead contract as its volume has surpassed the February volume. It opened higher and traded to the session low at 88.05. It grinded higher the rest of the session and made the high at 89.40. Settlement was near the high at 89.275. A failure from settlement could see price re-test support at 88.325. If …