I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update!
Live Cattle futures traded a little lower on Tuesday, with the daily ranges staying inside Monday’s range. Feeders posted higher highs and higher lows, compared to Monday, maintaining the bullish momentum from the Cattle on Feed data. Lean Hogs rallied to new contract highs and still seem strong. Corn futures seemed to make a bullish reversal on Tuesday and are up in overnight trade today. November Soybeans traded down to 10.05 yesterday, but found buying support there and are trading at 10.17 or so this morning. A good bullish turn, but needs more to change the chart. Soymeal posted the lowest close since August 1st yesterday while Bean Oil traded down to levels not seen since mid-June. Both are higher this morning, as the overnight session ends. Chicago Wheat spiked lower to a new contract low, but closed roughly 13 cents off the low and finished up nearly a dime yesterday. KC Wheat didn’t set new lows, but rallied to close a little over 9 cents higher.
My charts indicate new trade signals in Corn, Wheat, KC Wheat, Cotton, US Dollar Index, Unleaded Gas and Heating Oil (diesel) since my last update here.