Commentary Soybeans slipped into new lows under light volume. Funds light sellers ahead of the WASDE report on Monday. Optimism about US yields remain high with the Nov bean market challenging the 10.00 level. As of now it looks as if most of the grain Belt will benefit from favorable weather through the soybean pod setting and early filling periods …
Hogs Weaken as Cash Markets Decline
October Lean Hogs gap opened lower and made the session high at 73.875. The market broke down to the low at 72.35. The breakdown took price below support at 72.80 and it was able to bounce back and it challenged the high but couldn’t take it out and settled near it at 73.625. The price action formed a Hammer candlestick …
Grain Spreads: Corn and Bean Protections
Commentary The average trade guesses for next week’s soybeans and corn come in as follows for next Mondays WASDE from USDA. For corn, the average trade guess is 182.3 bushels per acre (BPA) for corn, with a range of 180 to 184. For soybeans the average trade guess is 52.5 BPA with a range of 51.5 to 53.9. The bean …
Cattle Markets Plunge
September Feeder Cattle gap opened lower and crashed. The panic built quickly, taking price down limit to the low at 238.90 in the first minute of trading. It didn’t stay there long as price quickly surged, trading up to the session high at 244.15. The rally couldn’t quite close the gap, leaving a tiny gap from the Friday low at …
Pure Hedge – Livestock and Grain
8/5/24 It was a wild day in the Cattle Markets. September’24 Feeder Cattle were Locked Limit Down just after the open today. October’24 Live Cattle were 3.07 ½ lower today and settled at 179.00. Today’s high was 180.50 and the 1-month high is 189.05. Today’s low was 176.35 and that is also the new 1-month low. The 52-week low …
Hogs Hold, Cattle Markets Sink as Economic Worries Build
October Lean Hogs opened lower and traded to the session high at 77.225. It wasn’t able to take out the Thursday high as outside markets limited Hogs and it fell to the session low at 76.075. This was just below support at 76.175 and it rebounded from here to test the high and failing to make a new high drifted …
Pure Hedge – Livestock and Grain
8/2/24 That was an interesting couple of days. I remember saying it would be vicious. My Cattle trades worked pretty damn well, and there will be plenty more opportunity to come. The Fats were down again today but settled a couple bucks off the lows. October’24 Live Cattle were 1.65 lower today and settled at 182.07 ½. Today’s high …
Walsh Gamma Trader
8/2/24 COMMODITY BUY/SELL COST PER CONTRACT EXPIRATION GRAINS SEP’24 SOYBEAN MEAL BUY 310P 1.05 or $105.00/Contract 21 Days – 8/23/24 MAY’25 CORN BUY 600C 2 3/8 or $118.75/Contract 266 Days – 4/25/25 JAN’25 SOYBEANS BUY 900P 5 1/8 or $226.25/Contract 147 Days – 12/27/24 MAR’25 WHEAT BUY 500P 10 5/8 or $231.25/Contract 203 Days – 2/21/25 LIVESTOCK APR’25 LIVE CATTLE …
Grain Spreads: Friday Rally
Commentary Bean prices held the early gains for once and didn’t fade late. Strength in meal helped today to close out the week. A rout in equities may have provided managed funds to cover their record net short in grains across the Board. A story worth noting is the USDA announced a 202 thousand metric sale of 24/25 soybeans to …
Hogs Strong
October Lean Hogs opened lower and made the low of the day at 75.65. This was just above support at 75.60 and this propelled price higher to an early high at 77.125. The market broke down from the early high and tested the low, stopping just above the low at 75.975 and then bouncing back and rallying the rest of …