The Nov WTI trading session settled at 69.5, had a high of 71.72, a low of 69.23. Cash price is at 71.58(+1.21), while open interest for CLX24 is at 355,290. CLX settled below its 7 day (70.5) ((broke below the 7 and 20 day)), its 20 day (69.74), its 50 day (72.78), and its 200 day (74.93) moving-averages. The COT …
Grain Spreads: Wheat Rising
Commentary The wheat bulls do not seem to be willing to let this market fade further as not only short covering has emerged but now some aid from outside markets perhaps. It is my belief that the near-term resurgence of corn and beans is helping fuel the rebound in wheat. Open interest has been on a steady decline since mid-July …
Pure Hedge – Livestock and Grain
9/25/24 There was not much action today in the Livestock or Grain Markets today, but the Grains rallied late. The Fats were a little lower today. December’24 Live Cattle was 7 ½ cents lower today and settled at 184.32 ½. Today’s high was 184.55 and the 1-month high is 184.92 ½. Today’s low was 183.72 ½ and the 1-month low …
Nov WTI Crude Oil
The Nov WTI trading session settled at 71.56(+1.19) [+1.69%], had a high of 72.40, a low of 70.44. Cash price is at 70.37(-0.65), while open interest came in at 355,290. CLX settled above its 7 day (70.44) ((broke above the 7 and 20 day)), its 20 day (69.98), but below its 50 day (72.94), and its 200 day (74.93) moving-averages. …
November WTI Crude Oil
9/23//24 The Nov WTI trading session settled at 70.37(-0.63) [-0.89%], had a high of 71.81, a low of 69.49. Cash price is at 71.02 (-0.89), while open interest came in at 355,622. CLX settled below its 7 day (70.45) ((broke below the 7 and 20 day)), its 20 day (70.94), its 50 day (74.49), and its 200 day (77.31) moving-averages. …
Pure Hedge – Livestock and Grain
9/23/24 Today was an opportunity to sell at much higher prices, you pick the Market, and I hope you took advantage of it. The Livestock Markets were all higher today. December’24 Live Cattle were 62 ½ cents higher today and settled at 183.82 ½. Today’s high was 184.47 ½ and that is the new 1-month high as well. Today’s low …
Grain Spreads: Aggressive Short Covering
Commentary Short covering was the theme in corn and beans today. Funds were sizable buyers covering shorts at an aggressive clip. Estimations for corn at 30 to 35k futures and options bought while beans saw funds cover 20 % of their short positions, 20% in bean oil and added 5% to their net long in bean meal. Worries over Brazil …
Hogs Continue Higher
December Lean Hogs opened higher, traded down to the session low at 74.125 and then rallied to the high at 75.15. It consolidated the rest of the session and settled near the high at 74.875 in a quiet session. With December the lead contract and still trading at a steep discount to the Lean Hog Index, traders continue to move …
Walsh Gamma Trader
9/23/24 COMMODITY BUY/SELL COST PER CONTRACT EXPIRATION GRAINS MAR’25 SOYBEAN MEAL BUY 290P 3.50 or $350.00/Contract 151 Days – 2/21/25 MAY’25 CORN BUY 500C 7 ½ or $375.00/Contract 214 Days – 4/25/25 MAR’25 SOYBEANS BUY 920P 6 1/8 or $225.00/Contract 151 Days – 2/21/25 MAY’25 WHEAT BUY 750C 13 ¾ or $687.50/Contract 214 Days – 4/25/25 LIVESTOCK …
Hogs and Cattle Rally to a New high For Recent Up Move
December Lean Hogs opened unchanged, rallied to the high of the session at 74.65, and then broke down to the low at 74.025. It settled near the low at 74.225. The high of the day is also a new high for the up move and the candle formed a spinning top, indicating indecision after achieving the new high. The cash …