SOYBEANS– Soybeans have held up well since being pressured by the September WASDE. Soybean meal held close above 370 in the December contract, while soybean oil reversed higher on the day after starting off weak. November’26 Soybeans (ZSX26) settled at 1317.50 (-8), high of 1327.25, low of 1311. January ‘27 Soybeans (ZSF27) settled at 1333.75 (-8.25), high of 1342.5, …
Markets in Risk Off Wait and See Mode Following Hot PMI, 10Y Yield back above 5%, as Financials, Currencies and Metals Trade at Lows, Energy at Highs, Amid Stronger Dollar, Rates & Oil
Following this morning’s PMI report, a reading of 58.4, over 2 points higher than the previous reading of 56 and the top of the Econoday consensus ranges for both Manufacturing, 57 versus 54.7 and Services, 58.7 versus 56.5, markets are in a risk off & wait and see mode as the yield on the 10 year has traded back above …
Pure Hedge – Livestock and Grain
9/22/26 I am still Bullish the Soybean Oil, Sugar #11, and now the Natural Gas Contracts. I am Bearish the Soybeans, and the Cattle Markets, but only for a limited time in the Cattle Markets. There are a few new Trades below, including two new Bullish March’27 Feeder Cattle. I still think the October’26 Feeders can break 20-dollars from here, …
Grain Spreads: Harvest Gameplans
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 Managed funds are long over 1 million futures and options contracts in the grain complex per the last CFTC release. We have detailed the reasons all summer long. Geopolitical, reduction in yields, increased demand, the …
NOV-MAR FEEDER CATTLE SPREAD (GFX26-GFH27)
WALSH PURE SPREADER Pure Hedge Division RICH MORAN 9/22/2026 NOV-MAR FEEDER CATTLE SPREAD (GFX26-GFH27) In the short term (OCT & NOV), I am bearish the Feeder Cattle market at the current levels, especially versus this coming spring (MAR & APR). The spread between the NOV and MAR Feeder Cattle markets (GFX26-GFH27) settled today at 12.775 ($12.77½). That is a pretty …
Corn, Beans, & Wheat Spreads
Tim Healy 9/22/2026 If you would like to receive more information on the commodity markets or would like to open an account, please give me a call or click the link below. Form Corn Futures Standard Spread (_S_SP_ZCZ6_ZCZ7) The spread is trading above every major moving average and latest price is 5.00. SMA (7) = 1.89, SMA (14) …
Soybean Meal Continues to Lead the Soybean Complex
SOYBEANS– Soybean harvest is 12% done, 4 points ahead of the average pace. Planting in Brazil has just begun. Soybean meal continues to rally, while soybean oil has trended lower. November’26 Soybeans (ZSX26) settled at 1325 (-3), high of 1331.5, low of 1318.5. January ‘27 Soybeans (ZSF27) settled at 1340.50 (-3.50), high of 1346.75, low of 1324.25. Cash price …
Hogs Bounce Back After Friday’s Breakdown
For those interested I hold a weekly livestock webinar on Tuesdays, and my next webinar will be Tuesday, September 22, 2026, at 3:15 pm. It is free for anyone who wants to sign up and the link for sign up is below. If you cannot attend live a recording will be sent to your email upon completion of the webinar. …
Grain Spreads: Funds Buy the Dip
Please join me for a free grain webinar every Thursday at 3pm CST. We discuss supply, demand, weather, and the charts. Sign Up Now Commentary Optimism about China drove grains higher today in my opinion following last week’s sell-off. China officially accepted the invitation to meet with President Trump between the 23rd and 25th of September. Secretary Bessent further noted …
The Grains Start the Week Higher
SOYBEANS– Soybean meal was sharply higher again today after selling off on Friday. Soybean meal has been extremely strong, and Friday’s COT report showed funds adding to their long position. As of September 15, managed money was long 185,546 contracts after adding 25,988 contracts. CONAB increased its estimate for Brazil’s production to 180.4 mt last week, an increase of …