I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update!
Most markets we trade will be closed Monday for the Labor day holiday. Enjoy the 3 day weekend. Trade today, ahead of the holiday, could see lighter trading volume and potentially, more price volatility as a result of that. Live and Feeder Cattle closed lower on Thursday, perhaps starting a wave of end-of-month profit taking. If they do start to turn lower, I think that may open up a buying opportunity, as fundamentals remain bullish and cash prices remain at very high price levels. Lean Hogs may go test the contract highs near 97.000 in the coming days. Corn and Wheat posted higher closes on Thursday, with Soybeans only able to gain 1/2 of a cent. Corn seems to be behaving like a bullish market, with dips in price being bought the last couple of days. Of course, that could also just be a sign of folks taking off positions ahead of the long weekend. Soymeal looks heavy to my eye and Bean Oil is getting closer to the 51.19 gap left on the chart from mid-June.
Since my last update here, my charts have indicated new trade signals in Sugar, Copper, US Dollar Index and NASDAQ 100 futures.