I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update!
Cattle futures started the week with a positive close, following Friday’s large sell-off. A lack of immediate follow-through selling, has me thinking that the bulls are still in charge. However, a close below yesterday’s low in Feeders and Live Cattle would be short-term bearish. Lean Hogs are just under the 50-day moving average, but continue to remain somewhat strong and on the bullish side. It’s WASDE day for the Grains, with traders and producers looking forward to the 11 AM data release. From what I’ve read, most of the focus is on the yield estimates for Corn and Soybeans. Weather has been good for crop development and most are expecting a bump in expected bushels per acre. It’s not uncommon for grain markets to gyrate wildly following those reports, we’ll see how today reacts. Tariffs with China have been delayed for another 90 days. Mexico remains active in the Corn trade, buying 315k metric tons of new crop Corn this morning.
My charts indicate new trade signals in Soybeans, Sugar, Platinum and Bitcoin futures this morning.