Commentary Wheat futures potentially climbed after Canada’s agriculture statistics agency reported a sharp drop in the country’s inventories at the end of last year. Signs of easing in Russia/Ukraine tensions have added pressure recently in my view, but the data that was released today. Canada’s wheat stockpiles totaled plunged 15.6 MMT at the end of December, down 38% from the …
Livestock Report
Walsh Trading Daily Insights Commentary April Lean Hogs rallied right out of the gate making the low at 100.30 and racing to a new high at 102.85. This is just above resistance at 101.975 and this proved to be a strong level as price broke down to test the session low. It was able to bounce and settled at 101.275. …
Grain Spreads: Bullet Points
Commentary Both soybean and soymeal futures rallied to contract highs on fresh export business and expectations of adverse weather that could potentially shrink South American production. This morning, USDA announced daily soybean sales totaling 507,000 MT to “unknown destinations,” with 249,000 MT for 2021-22 and 258,000 MT for 2022-23. Unknown is spelled CHINA. Since Jan. 28, USDA has reported a combined …
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