GENERAL The crude is up $5.00 per barrel today. The macro concerns continue to feed a bid. The stocks are down again with the Dow down over 300 at present. The macro is down here in my opinion. The value hunters will buy and continue to lose. The reality is the global fundamentals have changed. Interest rates are rebounding, the macro …
Livestock Report
Walsh Trading Daily Insights Commentary June Lean Hogs opened lower and broke down to a new low for the down move at 99.50. The decline took price below support at 100.075. Price reversed course and raced higher, making the high of the day at 101.90. With resistance nearby at 101.975 and the rising 200-DMA at 102.60, the rally came to …
Grain Spreads: KC Wheat
Commentary Wheat Markets continue to trade sharply higher with dips being seen as buying opportunities is the theme for the week so far in my view. Weather maps are showing dry conditions for both the EU and US Southern Plains and the wet maps for the US Northern Plains that potentially brings more delay to Spring wheat plantings. The weather …
Soy & Corn Market Commentary
SOY The beans rebounded today. The planting progress released yesterday afternoon may be the reason. The progress continues short of expectations. The current numbers are 12% planted. A gain from the previous week at 8%. This is well below the 5 year average at 24%. The weather next week will be important especially in the northern growing states. This is …
Livestock Report
Walsh Trading Daily Insights Commentary June Lean Hogs opened strong, trading to the session high at 102.725 and then broke down and made a new low for the down move at 100.15. It recovered and settled at 101.575. The initial surge tested resistance at 101.975 and the rising 100-DMA at 102.40. The failure took price to just above support at …
Cattle and Hogs report
It appears to me that the market seems to have put in a significant low based off of yesterday’s session (hitting a low of 131.025 before closing on the day at 133.55). There was a significant improvement in the pasture conditions and a large discount to the cash market which I believe is giving the market support around 133-134. Today’s …
Market Commentary
GENERAL: The Global atmosphere has a negative tone. The war in Ukraine is a real concern for various aspects of the market. The energy sector continues to receive a bid. This volatility will continue. It appears to me there is a lack of understanding regarding the potential slow down that appears to be coming. The EU appears to be slowing. …
Livestock Report
Walsh Trading Daily Insights Commentary June Lean Hogs started the week on weakness, gap opening lower and breaking down through support at 101.975 to the session low at 100.55. The high was at 103.35 and settlement was below support at 101.30. Weakness throughout equity and commodity markets and continued strength in the US dollar putting pressure on Hogs. Cash fundamentals …
Livestock Report
Walsh Trading Daily Insights Commentary June Lean Hogs closed the week in a disappointing manner, opening lower and breaking down through support at 104.35 to the session low at 103.70. The high was at 106.725 and settlement was below support at 104.10. Worries that the cash market can’t get untracked and resume its way higher putting pressure on futures after …
Grain Spreads: Old Crop Corn
Commentary Corn’s upside momentum stalled as July futures posted the first weekly decline in over a month. In my opinion, weakness in part may reflect China’s lack of early-May buying after it purchased more than 4.5 million metric tons of U.S. corn in April. But bullish fundamentals remain intact in my view, we could extend higher from here on a …