I post these videos every trading day, shortly after 8 AM CT. Check back here tomorrow for another update!
**I’ve been having some technical difficulties with YouTube over the past 2 days, my apologies for yesterday’s video being delayed and not posted until today. Allegedly, the tech issues are behind me now**
Live Cattle posted lower lows/high yesterday, as did Feeder Cattle, but did not see a bearish extension following Feeders limit-down close. Fundamentally, Cattle remain in bullish conditions, but prices may have started a short-term retracement lower. Lean Hogs closed strong yesterday, I would expect a test to new contract highs soon. Corn and Soybeans are chopping around this week, as traders await the Sept WASDE report, due out tomorrow at 11 AM CT. Wheat continues to sag, with Chicago making new contract low close on Wednesday and pushing further lower in the overnight session. KC Wheat continues to sag, as well, but the KC/CHI spreads appear to be improving.
My charts indicate a new trade signal in Soymeal futures this morning.