I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update!
Live Cattle and Feeder Cattle closed higher on Tuesday. Nearby Live contracts failed to set new contract highs, but back months in Live Cattle and all of the Feeder Cattle contract did. The trend is still up, fundamentals remain bullish, but yesterday’s trade hints that the bullish momentum might be running out. Corn and Soybean prices sagged lower, as traders keep an eye toward the crop tours. Early indications are for good yields, which adds a little bearish pressure. Wheat is working on a bullish reversal in overnight trade and is currently 7 1/2 cents off the low. Soymeal for December seems to be struggling with the 100 day average as a resistance level. Bean Oil had a sharp day down, is lower overnight and is getting closer to filling the 51.19 gap from mid-June.
My charts indicate new trade signals in Corn, Sugar, Silver, Copper and NASDAQ futures this morning.