10/9/24 The Livestock Markets were all lower today, as the Feeders led the way down. The Fats made a new high before breaking back down. December’24 Live Cattle was 65 cents lower today and settled at 187.22 ½. Today’s high was 188.10 and that is the new 1-month high. Today’s low was 186.60 and the 1-month low is 175.72 ½. …
Oil Trends Lower, Inventories Increase – WTI Crude Oil Commentary 10/9/24
The Nov WTI (CLX24) trading session settled at 73.24 (-0.33) [-0.45%], had a high of 74.45, a low of 71.53. Cash price is at 73.67 (-3.48), while open interest for CLX24 is at 221,249. CLX settled below its 5 day (74.43), above its 20 day (70.73), above its 50 day (71.79), and below its 200 day (74.90) moving-averages. The COT …
Grain Spreads: WASDE & Wheat
Please join me for a free grain webinar every Thursday at 3pm Central. We discuss supply, demand, weather, and the charts. Sign Up Now Commentary The wheat market closed higher in my opinion as Ukrainian wheat export quotes are firming after the 2 attacks this week on ships carrying Ukrainian grain. Furthermore, the Russian Ag Ministry this morning has called …
Oil Plummets Over 4% – WTI Crude Oil Commentary 10/8/24
The Nov WTI (CLX24) trading session settled at 73.57 (-3.57) [-4.63%], had a high of 77.33, a low of 72.69. Cash price is at 77.15 (+2.82), while open interest for CLX24 is at 242,047. CLX settled above its 5 day (73.84), its 20 day (70.41), its 50 day (71.80), but below its 200 day (74.90) ((broke below its 200 day …
Pure Hedge – Livestock and Grain
10/7/24 The Livestock Markets were mixed today. December’24 Live Cattle was 2 ½ cents higher today and settled at 187.02 ½. Today’s high was 187.55 and the 1-month high is 187.90. Today’s low was 186.55 and the 1-month low is 173.50. Since 9/6 December’24 Live Cattle are 12.32 ½ higher or about 7%. The Feeders made a new monthly high …
Grain Spreads: Wheat Goes Bid
Please join me for a free grain webinar this Friday at 3pm Central. We discuss supply, demand, weather, and the charts. Sign Up Now Commentary Wheat prices had a weaker start overnight but closed higher with KC and Minneapolis leading the way. While it was just a 5-cent gain for Kc and Minny, all three classes hold near term support. …
Crude Rises Via Retail Traders, A New Hurricane, Mideast Tensions and Short Covering – Commentary
The Nov WTI (CLX24) trading session settled at 77.14 (+2.76) [+3.71%], had a high of 77.40, a low of 73.62. Cash price is at 74.33 (+0.60), while open interest for CLX24 is at 265,679. CLX settled above its 5 day (72.84), its 20 day (69.92), its 50 day (71.78), and its 200 day (74.89) moving-averages. The COT report (Futures and …
Hogs Grind Higher, Make New high
December Lean Hogs opened lower, traded to the session low at 75.775, and then grinded higher to the high at77.35. It dipped and settled at 76.825. The rally took price to a new high for the up move, testing resistance at the 50-DMA now at 77.125, with resistance holding with the lower settlement. The early breakdown took price right down …
Walsh Gamma Trader
10/7/24 BALLEN@WALSHTRADING.COM Bill Allen COMMODITY BUY/SELL COST PER CONTRACT EXPIRATION GRAINS MAR’25 SOYBEAN MEAL BUY 300P 7.00 or $770.00/Contract – LAST WEEK WAS 3.40 137 Days – 2/21/25 MAY’25 CORN ACTIVE CALL FOR ACTIVE TRADE RECOMMENDATIONS 200 Days – 4/25/25 MAR’25 SOYBEANS ACTIVE CALL FOR ACTIVE TRADE RECOMMENDATIONS 137 Days – 2/21/25 MAY’25 WHEAT ACTIVE CALL FOR …
Hogs Make New High, Cattle Markets End Week on Positive Note
December Lean Hogs opened lower, rallied to the high of the session at 77.025, and then broke down to the low at 75.775. It consolidated the rest of the session and settled at 76.15. The rally to the high negated the Tweezer Top formation and is a new high for the up move, but the price action stalled to the …