Grain Spreads: One More Time in Beans

Sean Lusk General Commentary

Commentary November soybeans fell 5 3/4 cents to $13.86 3/4 and near the session low after an early rally to 14.01. December soybean meal dipped $1.70 to $410.20 near the middle of the range. Midwest weather forecasts remain unrelenting in my view through mid-week next with no real chance to escape hot and dry conditions now up into the first …

Hogs Hold Support, Surges to a New High for Recent Up Move

Ben DiCostanzo General Commentary

October Lean Hogs gap opened lower on Wednesday and traded to the low of the day at 79.525. The low was just below support at 79.80 and had bears chomping at the bit. Instead they bit their tongue as bulls gored the shorts and price rebounded, closing the opening gap. The market stalled and then bulls took over at mid-session …

Grain Spreads: Wheat Leveled

Sean Lusk General Commentary

Commentary Markets finished lower across the board with KC leading the way followed by Chicago and then Minneapolis. Values traded lower from both the overnight open and day session open with little if any strength seen at all with algos selling it all the way down. The price action just continues to reinforce the idea that nobody cares right now …

Hogs and Feeders surge, Cattle Limps higher

Ben DiCostanzo General Commentary

October Lean Hogs gap opened lower on Monday and made the low of the day at 78.85. The low was just above support at 78.80 and bulls took over and drove price higher. The gap open lower was some follow through selling from the crash in the cutout on Friday. The cutout was lower on the afternoon report and traders …

Hogs Collapse as Cash Market Falls

Ben DiCostanzo General Commentary

October Lean Hogs gap opened higher on Friday and raced to the high of the day on hopes for a revival in the cash market. It reached the session high at 83.125, and the market stalled. The high was just below resistance at 83.325 and it seemed that traders wanted more information before challenging the resistance level. Well…they got their …

Grain Spreads: Drone Strikes Danube Again

Sean Lusk General Commentary

Commentary Russia runs a drone attack against Danube River ports overnight and damage a few grain warehouses but the fires that resulted were contained quickly. This comes after Turkey announced on Monday that progress had been made on the grain corridor deal with Putin and Erdogan meeting soon to discuss. The strikes come as Ukraine begins to tout its new …

Livestock Markets Trade Lower

Ben DiCostanzo General Commentary

October Lean Hogs faced more hardship on Tuesday, breaking down as cutouts and cash continue to deteriorate. The market opened weak and after an early low, tried to bounce, trading to the session high at 81.225. This was just above resistance at the declining 13-DMA now at 80.975 as traders were hopeful for a strengthening cash. This was not to …

Grain Spreads: Bean Counting Begins

Sean Lusk General Commentary

Commentary   The much-anticipated Pro Farmer crop tour continued through Nebraska, Indiana, and Illinois today. Day two of the Pro Farmer Crop Tour appears to be finding more variability in Nebraska (western leg) and Indiana into Illinois (eastern leg) than solid findings yesterday. In my opinion that was expected as the tour moves along.   Soybean conditions held steady at 59% …

Cattle Markets higher as Hogs fall back

Ben DiCostanzo General Commentary

October Lean Hogs gap opened higher, at the high of the day (82.475) and fell apart. The open was just above resistance at the declining 21-DMA (82.475) and below the 200-WMA (82.775). This proved too be too tough for Hogs to overcome and price traded lower the rest of the session, making the low at 80.40. The low was just …

Hogs Surge as Cattle Markets Recover off of New Lows

Ben DiCostanzo General Commentary

Walsh Trading Daily Insights Commentary October Lean Hogs opened higher, at the low of the day (79.825) and took off to the races. The open was above resistance at 79.80 and bulls took this as a sign the bullish Morning Star candlestick pattern established over the past 3-day period was ready to go. It took out resistance at 80.45 and …