GRAINS MACRO OUTLOOK: In my opinion, the medium to long term outlook for Grains is bearish. In review of the daily charts, I would suggest this recent move upward, caused by a sudden appearance of heat and dryness, will run out of momentum and turn to the downside again. There is also a potential for the U.S. dollar to be stronger …
Livestock Report
Walsh Trading Daily Insights Commentary October Lean Hogs opened lower, traded down to the session low at 95.50 and reversed course, rallying the rest of the session to the high at 97.375. It settled near the high at 97.225. The rally failed yet again to overtake resistance at 97.30, as trade couldn’t sustain the high with settlement below resistance. The …
Grain Spreads: Beans in the Lead
Commentary Soybeans continued their sharp reversal off lows, with futures gaining $2 from low to high over the last six days, the biggest weekly rally since 2004. The November contract finished 28 cents higher, with some profit taking the second half of the session. The USDA reported a private sale of 132K MT of beans for delivery to “unknown” destinations …
Weekly Cattle Hedging Strategy 7-29
PURE HEDGE CATTLE In my opinion, the medium to long term outlook for the cattle market is bullish. In review of the daily charts, I would suggest this recent move upward, caused by a sudden appearance of heat and dryness, will continue into the 4th and 1st quarter. If the price for Live Cattle sees a rally in the deferred …
Livestock Report
Walsh Trading Daily Insights Commentary October Lean Hogs opened higher, made the session low at 94.00 and rallied the rest of the session to the high at 96.525. It settled just off the high at 96.45. It was a welcomed rally after Tuesday’s early beat down to 92.425. The low was just above support at 92.375. The Wednesday rally was …
Soy Market Commentary
SOY The bean market has put on another rally today. As I mentioned yesterday I felt one more up day this week was possible. We have received that and my targets are met. It is my thought the market now will wait and see if rains are received. This will be interesting at present. The market is giving the producer an …
Grain Spreads: KC Wheat Potential
Commentary It is my belief that the Trade continues to watch for signs of progress in resuming grain shipments out of Ukraine. A Turkish official said all the details had been worked out for a resumption of Ukrainian grain exports via Black Sea ports, including a safe route for ships that will not require the clearing of sea mines. The market …
Soy & Corn Market Commentary
SOY The beans are making a quick move higher. I indicated on Thursday last week, any changes in the weather could spark a quick move up. The weather looks hotter and dryer potentially next week. The market if it moves higher will now place the burden on the actual weather. It means it will need to actually get hot and …
Grain Spreads: Bombs Away
Commentary: Wheat recovered mildly from its 40-cent collapse on Friday. The deal between Russia and Ukraine has been on the rocks since its inception in my opinion and the news over the weekend just added more instability. The bombing of the Odessa port and other aggressive acts put the agreement in question less than 24 hours after its signing and …
Livestock Report
Walsh Trading Daily Insights Commentary October Lean Hogs opened lower, raced to the session high at 97.075 and reversed course, breaking down and trading to the session low at 93.20. It recovered a bit and settled at 94.125. The early rally failed yet again to overtake resistance at 97.30 and this time traders panicked and the market crashed. Cash trade …