Pure Hedge– Grains 9/30

Peter McGinnGeneral Commentary

SOYBEAN HEDGE OPPORTUNITIESPRODUCERS MONTH STRIKE PRICE PREMIUM COST NOV ‘22 1300 10.875 $543.75 1280 7.625 $381.25   1260 5.25 $262.50 JAN ’23 1160 5.375 $268.75 MAR ’23  1100 5.50 $275  JUL ’23 1000 3.875 $193.75 END USERS MONTH STRIKE PRICE PREMIUM COST NOV ’22 1660 0.625 $31.25 1700 0.375 $18.75   1760 0.25 $12.5  JAN ’23 1800 2.00 $100 MAR …

Pure Hedge– Cattle 9/30

Peter McGinnGeneral Commentary

PURE HEDGE CATTLE In my opinion, the medium to short term outlook on the cattle market looks to neutral to bearish.  The cattle market experienced some long liquidation as well as uncertain cash trades along with a strong dollar which all helped put pressure on the market the past two weeks. The USDA Cattle on Feed report last week came …

Grain Spreads: King Corn

Sean LuskGeneral Commentary

Commentary USDA pegged September 1st corn stocks (2021-22 ending stocks) at 1.377 billion bushels. This was 135 million bushels less than traders expected. The average trade guess was 1.525 billion bushels. This suggests that feed usage has been larger than expected in my opinion. USDA also revised the 2021 corn crop down 41 million bushels. The outlook for tight supplies …

Livestock Report

Ben DiCostanzoGeneral Commentary

Walsh Trading Daily Insights Commentary December Lean Hogs continues to get pounded. It made another new low for the down move at 75.325. The low took price just below support at 75.60 and settlement was just above it at 75.825. The high came early at 77.25 as bulls made another weak attempt to take control and failed. The low and …

Cattle Commentary 9-28

Peter McGinnGeneral Commentary

Cattle markets were down again today with the December contract down .62 cents today settling at $146.275. Volume has been decreasing the past couple trading sessions, indicating to me that the market is losing downward momentum. Traders seem to still think there will be a short-term supply pinch which would give the market some support around these levels in my …

Livestock Report

Ben DiCostanzoGeneral Commentary

Walsh Trading Daily Insights Commentary December Lean Hogs continues to get pounded. It took another one to the chin and was knocked down to a new low for the down move at 76.125. The low took price just below support at 76.175 and settlement was just above it at 76.25. The high came early at 80.575 as bulls made a …

Grain Spreads: Volatile Wheat

Sean LuskGeneral Commentary

Commentary Winter wheat futures rose for the first time in three sessions on short covering and corrective buying following Monday’s declines. A pullback in the U.S. dollar index earlier today also lent support to grain prices, but the index remains near a 20-year high, stirring concerns demand for dollar-denominated commodities could be hampered. Grain markets remain on edge amid conflicting …

Cattle Commentary 9-26

Peter McGinnGeneral Commentary

The cattle market had continued selling today after the Cattle on Feed report came out on Friday with a bearish tone. The numbers that came out Friday showed placed and on feed numbers slightly up from the expectations and the marketed cattle up 6% from last year. Futures had a stiff premium to the cash market which could bring long …

Grain Spreads: Corn Counting

Sean LuskGeneral Commentary

Commentary December corn futures failed to clear the $7.00 level again last week and turned lower. While declining crop estimates and projected tight ending stocks for 2022-23 are in my view supportive, the fact that the combines rolling amid a rising Dollar and falling equities are playing a big roll.  The U.S. dollar pushed to a fresh 20-year high this …

Pure Hedge– Cattle

Peter McGinnGeneral Commentary

In my opinion, the medium to short term outlook on the cattle market looks to be bearish.  In review of the daily charts, December live cattle has seemed to form a double top but closing down near the first level of support at $148. Feeder cattle back month contracts should be looked at being bought in the near term to …