Walsh Trading Daily Insights Commentary April Lean Hogs continued its pullback on Monday, opening strong but with continued fear from the Russian invasion of Ukraine permeating throughout traders’ psyche, finally wore out Hogs, sending prices lower on the day. The high came in early at 104.50 and the low was at 102.875. Settlement was at 103.50. With strong hog fundamentals …
Grain Spreads: Wheat/Corn
Commentary Corn and wheat’s fortunes remain tied together in my opinion led by the Ukraine-Russia story. Russia’s conquest of Ukraine didn’t occur as was anticipated on Friday. Ukraine is holding out and has bogged down the Russian advance. The western powers have increased financial sanctions, employing SWIFT to halt Russian bank transactions. Therefore corn futures followed wheat higher on concerns Russia’s …
Livestock Report
Walsh Trading Daily Insights Commentary April Lean Hogs continued its pullback after making a new high on Wednesday. It opened strong and made the session high at 109.65. The weight of outside markets took over and hogs broke down and it traded to the session low at 105.40. This is just below support at the rising 13-DMA at 105.50. Settlement …
Livestock Report
Walsh Trading Daily Insights Commentary April Lean Hogs made the low in the opening minutes of trading, then surged the rest of the session, making a new high for the up move at 112.675. The low was at 108.925 and settlement was near the high at 112.075. Cash market continues to be strong with cutouts and cash on an upward …
Grain Spreads: Wheat Rising
Commentary All three wheat classes soared higher today, after Russian President Putin announced he recognized the independence of two breakaway regions in the Ukraine, which led to troops entering the region for “peace keeping.” Values drifted lower into the first hour of trading this morning before the algos took full control in my view. It is my belief that they …
Livestock Report
Walsh Trading Daily Insights Commentary April Lean Hogs is trading under the influence of a bearish engulfing candle pattern. It opened higher and surged to the session high at 106.525. It broke down and plummeted to the low of the day at 104.75. It consolidated the rest of the session and settled at 105.40. Hogs broke out above the 3-day …
Livestock Report
Walsh Trading Daily Insights Commentary April Lean Hogs is trading under the influence of a bearish engulfing candle pattern. It opened higher and broke down to the session low at 102.075. The low is just above support at 101.975 and bullish traders took over and sent price to the high of the day at 105.10. The rally took price past …
Grain Spreads: New Inputs
Commentary This morning’s soybean crush came in at 182.2 million bushels this morning, well below the average 186.7 million bushel (mbu) trade expectation, and down from December’s 186.4 mbu (the record crush for any single month), and 184.7 mbu last January. Trade estimates ranged from 183.7- 188.5 million bushels. Crop scout Agro-Consult this morning estimated 2021/22 Brazilian soybean production at …
Livestock Report
Walsh Trading Daily Insights Commentary April Lean Hogs is trading under the influence of a bearish engulfing candle pattern. It broke down below the 101.975 support level after a strong open and traded to the low of the day at 101.00. Bulls took over and price rallied to the session high at 103.825, which is just below the Friday high …
Soy Market Commentary
COMMENTARY: The bean market corrected today. The trend has been up in a very large protracted way. The weather in the southern hemisphere has been the key driving force. The market took a breather today due to the USDA report tomorrow, in my opinion. The two week weather outlook appears to remain hot and dry in critical areas. The reality …
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