Grain Spreads: U Turn in Wheat

Sean LuskGeneral Commentary

Commentary May Chicago wheat closed up 20 1/4 cents on Tuesday at $5.79 1/4 and near the session high. Prices hit a contract low early on in the session. May KC wheat rose 19 1/2 cents at $5.81, nearer the session high. The rally today comes after prices hit a contract low last Friday. Short covering was the feature as …

Pure Hedge – Livestock

Bill AllenGeneral Commentary

2/16/24 The Cattle Markets had big gains today and the Soybeans bounced higher too. I hope you sold it on the close. April’24 Live Cattle were 1.950 higher today and settled at 187.550, just below today’s high of 188.125, which is also the 1-month high. The 52-week high is 199.825, and I am showing that for informational purposes only. Today’s …

Pure Hedge – Grain

Bill AllenGeneral Commentary

2/16/24 The Cattle Markets had big gains today and the Soybeans bounced higher too. I hope you sold it on the close. April’24 Live Cattle were 1.950 higher today and settled at 187.550, just below today’s high of 188.125, which is also the 1-month high. The 52-week high is 199.825, and I am showing that for informational purposes only. Today’s …

Can Cattle Continue to Rally into 2024

Ben DiCostanzoGeneral Commentary

In 2022, drought and high feed costs pressured producers and they saw their profit margins crater which led to herd liquidation, in my opinion. This led to the smallest beef cow inventory in the last 50 years and coupled with historically strong demand saw fed cattle prices surge to record prices in 2023.  For 2024: 1.Cattle numbers continue to decline …

Walsh Gamma Trader

Bill AllenGeneral Commentary

2/16/24 COMMODITY BUY/SELL COST PER CONTRACT EXPIRATION GRAINS SEP’24 SOYBEAN MEAL BUY 250P 0.95 or $95.00/Contract 189 Days – 8/23/24 JUL’24 CORN BUY 370P 2 3/4 or $137.50/Contract 126 Days – 6/21/24 AUG’24 SOYBEANS BUY 900P 1 1/2 or $75.00/Contract 161 Days – 7/26/24 JULY’24 WHEAT BUY 450P 2 3/8 or $118.75/Contract 126 Days – 6/21/24 LIVESTOCK AUG’24 LIVE CATTLE …

Beans Down Another Dime

Sean LuskGeneral Commentary

Commentary A profit collecting driven bounce in the soy and soymeal markets today closed out a volatile week of trading. Beans lost approximately 11 cents on the week, to close at 1172 just above the 10 % down form the year threshold. (1168). While condition ratings continue to drop in Argentina, Brazilian offers into China are still significantly cheaper that …

Hogs Continue Higher

Ben DiCostanzoGeneral Commentary

April Lean Hogs gap opened higher, closed the gap while making the session low at 84.65 and rallied to the session high at 85.775. It drifted lower the rest of the session and settled near the low at 85.00. The dip lower barely took out the Wednesday high at 84.725 and the rally tested resistance at 85.325. It failed to …

Pure Hedge – Livestock and Grain

Bill AllenGeneral Commentary

2/14/24 All the Grains and the Cattle Markets were lower today, and I don’t believe it’s over yet. The Fats broke today but came off the session lows.  April’24 Live Cattle was 1.100 lower today and settled at 184.000, in the middle of today’s range. Today’s high was 185.125 and the low was 182.825. The 1-month high is 187.575 and …

Grain Spreads: AG Forum Tomorrow

Sean LuskGeneral Commentary

Commentary Corn, soybean, and wheat prices posted new lows for the move overnight, with corn prices posting new three-year lows, and Kansas City and Minneapolis wheat posting more than 2-1/2-year lows. A strong Dollar ahead of the Ag Forum tomorrow had sellers active on this break to new lows across the grain Board. Looking at the AG forum release tomorrow for …

Pure Hedge – Livestock and Grain

Bill AllenGeneral Commentary

2/12/24 The Grains all gained today, while the Cattle markets were mixed. The Fats gave a little back today, and the Feeders gained over a dollar. April’24 Live Cattle was 0.800 lower today and settled at 185.925, just above today’s low of 185.525. Today’s high of 187.575 is also the 1-month high. The 1-month low is 173.525. Since 2/12 April’24 …