Walsh Trading Daily Insights Commentary August Lean Hogs was unable to take out the Tuesday high, making the high at 110.075 and then falling back, trading weaker the rest of the session to the low at 108.10. Settlement was near the low at 108.325. The price action created an inside candlestick with the range between Tuesday’s high and low. The …
Grain Spreads: December 23 Corn
Commentary December 22 corn faded from brief initial gains over the last two days and fell back near three-week lows posted overnight on strong crop ratings and a potential outlook for less-threatening Midwest weather. USDA late Tuesday reported 70% of the U.S. crop in “good” or “excellent” condition as of Sunday, down from 72% from a week earlier and meeting …
Livestock Report
Walsh Trading Daily Insights Commentary August Lean Hogs is now the lead contract as its volume has surpassed the volume in the July contract. It opened lower and made the session low at 107.40. This is right on the 8-DMA and price surged from here, rallying the rest of the session to the high at 110.225. It settled near the …
Soy & Corn Market Commentary
SOY The Bean market rebounded today. The advance was led by meal. The meal market is finding interest for a couple reasons. The cost relative to corn got cheap. In addition the oil share is correcting and the meal is becoming a bit more of the leader. The beans are getting a bid also due to weather concerns. This is …
Livestock Report
Walsh Trading Daily Insights Commentary June Lean Hogs opened lower and made the session low at 105.625. It reversed course and rallied to the session high at 108.85. It pulled back to just below support at 106.85 and then recovered into the close to settle near the high at 108.275. Cash markets strength saw some speculative buying in the futures …
Grain Spreads: July23/Dec23
Commentary It’s my belief moving forward when looking at Corn that the trade is watching weather and the prospects for domestic demand. This is until the USDA release regarding acreage in 2 weeks. The government wrapped up its data collection for the June Acreage Survey about a week ago. All intentions by the producer are locked in for the survey …
Market Commentary
GENERAL – The Crude is down as we speak 3.00 per barrel. I have no Idea if the market is going to $140 as many of the large banks have suggested. My question regarding that is at what price do you shut consumption down. There are only so many dollars the consumer will spend. Then it is cut back. We, …
Livestock Report
Walsh Trading Daily Insights Commentary June Lean Hogs opened lower and collapsed, trading down to the low of the session at 103.525 and then recovered, trading higher the rest of the session to the high at 107.20. Outside market decay as Equity markets were hammered created negative sentiment in the commodity markets. Cutouts led the way higher, in my opinion …
Grain Spreads: Bean Progress
Commentary In my opinion last Friday’s USDA crop report was about as tame as they come, containing few surprises. It leaves weather, near term demand and focus on the June 30 acreage report as the drivers of price in my view. The acreage numbers truly do matter in a year when supplies are tight, but weather, as its 90 percent of …
Market Commentary
GENERAL – The CRUDE is forging highs today. The fundamentals remain very supportive. The US is not going to change policy. In addition, the UAE indicated that the ability to raise supply relative to the demand is limited. The markets will be supported on the fundamentals and the technical outlook. The big banks, led by Goldman are predicting 140 dollar …