Post Archive by Month

Commentary Winter wheat conditions deteriorated last week as drought persisted in the Plains. USDA rated 30% of U.S. the crop in “good” to “excellent,” down two percentage points from a week ago, below an average of analyst expectations and the lowest for this time of year since 1996. However wheat prices are pulling back following recent gains, although concerns about the …

Walsh Trading Daily Insights Commentary June Lean Hogs opened lower and consolidated within Tuesday’s break out candle. The high was at 118.625 and the low at 117.00. Settlement was at 117.60. Tuesday’s rally was unable to overtake the 13-DMA and Wednesday wasn’t any different. The declining 13-DMA is at 118.675 and provided resistance to Hogs. The rising 21-DMA at 118.55 …

Commentary Winter wheat futures rebounded from overnight losses amid ongoing concerns over supply disruptions from the Russia/Ukraine war and poor crop conditions in the U.S. Plains in my opinion. France’s AG ministry lowered its forecast for French 2021-22 wheat exports outside the European Union by 200,000 MT to 9.5 million metric tons, partly reversing a 3 million metric upward revision to …

Walsh Trading Daily Insights Commentary June Lean Hogs opened higher and broke down to the low of the session at 113.15. It was a test of the Wednesday low (113.10) and it held, setting up a rally to the high at 115.90. It couldn’t sustain the rally and pulled back, settling at 114.15. Price remained within the Tuesday trading range …

Walsh Trading Daily Insights Commentary June Lean Hogs consolidated within the lower end of Tuesday’s trading range forming an inside candlestick. The high was at 115.30 and the low was at 113.10. It settled at 114.70. The low was a touch above support at 112.975 and the high was above resistance at the rising 21-DMA now at 115.15. Settlement was …

Commentary It is my belief per the average trade guesses that the grain market is looking for a reduction of around 25 million bushels each of corn and soybean ending stocks in Friday morning’s April USDA S&D Report. Wheat is seen fairly steady this month. Global soybean stocks are seen down around a million tonnes with corn and wheat steady. …

Walsh Trading Daily Insights Commentary June Lean Hogs opened unchanged and established the main part of the trading day’s range in the 1st 15 minutes of the session. The high was at 117.625 and the low was at 115.00. The price action was stuck within this range until there was about 10 -15 minutes left in the day when someone …

Walsh Trading Daily Insights Commentary June Lean Hogs took a hard left to the chin and was knocked down to the canvas. It went limit down after gap opening lower, trading to the session low at 115.70. It was able to settle off the limit price at 116.15. The gap is from the Friday low at 120.225 to the Monday …

Commentary Wheat futures are higher on reports of strong global demand as well as continuing concerns over Ukraine disruptions in my opinion. Saudi Arabia purchased 625,000 MT of optional origin wheat. Iraq purchased 100,000 MT of wheat expected to be sourced from Germany. Jordan tendered to buy 120,000 MT of optional origin milling wheat. So traditional world buyers aided today’s …

Walsh Trading Daily Insights Commentary June Lean Hogs opened higher and traded to the session high at 122.50. The rally peaked just a touch above resistance at 122.275, with selling taking over and driving price lower to close the gap at the session low at 120.225. Hogs consolidated the rest of the session and settled ear the low at 120.45. …