Commentary Grain futures rallied again overnight on fears that this month’s weather is taking the top off the corn, soybean, and spring wheat crops in my opinion. The two-week outlook moderated somewhat over the past 24 hours, but it still reflects a general warm pattern west of the Mississippi River, with rainfall below normal per the National Weather Service. It …
Soy & Corn Market Commentary
SOY The soy complex traded both sides today. The overnight was higher. The market is focused on perceived dryness. It seems there were many good rain showers. The weather has moderated. There are pockets of dryness as always. The USDA reporting at present looks about right for conditions. This at present would leave the yield at the current level. The important …
Livestock Report
Walsh Trading Daily Insights Commentary October Lean Hogs opened lower, made the low at 98.075 and rallied to the session high by mid-session at 100.75. It consolidated and settled near the high at 100.30. It was a breakout session for the hogs, pulling away from the key level at 98.475 and never looking back. It raced past resistance at 100.075 …
Grain Spreads: Spotty Rains Emerge
Commentary December corn futures closed trading around $6.07, near the middle of the range for the past two weeks. Weekend rains fell in some key areas and grain shipments continue out of Ukraine Black Sea ports, headed for Turkey, Italy, and China. Minnesota got widespread rains while about fifty percent of Iowa needs rain, although state good to excellent ratings are …
PURE HEDGE
CATTLE In my opinion, the medium to long term outlook for the cattle market is still bullish. In review of the daily charts, I would suggest this recent move upward, caused by a lack of production into the 4th and 1st quarter. December Live cattle futures rallied this week making puts on all contracts cheaper for downside risk. Feeder cattle …
Option Analysis – Grains 8.05.22
MACRO OUTLOOK: In my opinion, the medium to long term outlook for Soybeans is bullish. In review of the daily charts, I would suggest this recent move upward is caused by a sudden appearance of heat and dryness. Corn is a hold and Wheat is bearish. There is also a potential for the U.S. dollar to be stronger and cause a …
Cattle Commentary 8-4-22
It was a tight range day today in the cattle markets as the October and December contracts had only 50 and 60 cent ranges on light volume. The Oct contract, in my opinion, seems to be at its resistance level $144 while the next level of resistance for the Dec contract looks to be at its resistance level as well …
General Ag Market Commentary
The markets traded both sides today and through the night trade. The weather is creating some concern for both beans and corn. There are some dry spots, the rain is hit and miss etc. This is certainly important and needs to be watched. What is concerning me however, at present, is more political and changing. First, the visit by Pelosi …
Livestock Report
Walsh Trading Daily Insights Commentary October Lean Hogs opened higher, rallied to the high at 97.525 by mid-morning, and failing to take out the July 28th high at 97.875, it lost its energy and broke down the rest of the session to the low at 95.575. It settled near the low at 95.85. October Hogs continued its trade between the …
Grain Spreads: Bean Counting
Commentary Geo-political risks with China and a possibly wetter August forecast in the Midwest put soybeans on the defensive today in my opinion. China is 60% of the world’s soybean trade and of the 90 million metric tons China imports, the US accounts for approximately around one/third of the business. Weather forecasts don’t appear to be as threatening as feared …