The information and opinions expressed below are based on my analysis of price behavior and chart activity Monday, December 2, 2024 March Corn As we start the last month of 2024, March Corn settled the day down ½ cent at 4.32 ½. November saw prices gain by 7 cents, compared to October, but 5 cents of that gain came on …
Chart of the Day – Lean Hogs
The information and opinions expressed below are based on my analysis of price behavior and chart activity Tuesday, November 26, 2024 February Lean Hogs The last time I wrote about Lean Hogs was on Nov 14th, which was that big red down day about 9 bars ago on the chart. At that time, the market had just broken through the …
Chart of the Day – March Cotton
The information and opinions expressed below are based on my analysis of price behavior and chart activity Monday, November 25, 2024 March Cotton March Cotton closed the day at 71.72, up 0.95, on Monday. That strings together 6 consecutive days of gains which this market hasn’t been able to do since February of this year! A week ago, Tuesday, saw …
Chart of the Day – January Soybeans
The information and opinions expressed below are based on my analysis of price behavior and chart activity Thursday, November 21, 2024 January Soybeans When I wrote about Soybeans last week, I was still very much in the bullish camp. I don’t think I’m bullish anymore. Today’s close of 9.77 ¾ is the lowest close since August 16th. That day was …
Chart of the Day – February Gold
The information and opinions expressed below are based on my analysis of price behavior and chart activity Wednesday, November 20, 2024 February Gold The December contract is still the “front month” for another 10 days, but the Open Interest has shifted to the February contract now and the trading volume will show up in this contract over the next few …
Chart of the Day – February Live Cattle
The information and opinions expressed below are based on my analysis of price behavior and chart activity Tuesday, November 19, 2024 February Live Cattle Today the February Live Cattle contract closed up 2.025 at 188.000. That’s the highest close since October 30th and that takes out the last two weeks of highs. There is a Cattle on Feed report due …
Chart of the Day – January Feeder Cattle
The information and opinions expressed below are based on my analysis of price behavior and chart activity Monday, November 18, 2024 January Feeder Cattle Following Friday’s very strong jump higher and breakout close, Feeders continued to show more strength on Monday. Last week’s close put the Jan contract up 5.80 for the week, with 4.02 of that gain coming on …
Chart of the Day – February Lean Hogs
The information and opinions expressed below are based on my analysis of price behavior and chart activity Thursday, November 14, 2024 February Lean Hogs Lean Hog futures dropped aggressively today, shedding 2.25 to close at 83.775. This was the worst performing market in the Grains and Livestock complexes today, narrowly outdoing Soybeans for a percent decline on the day. Very …
Chart of the Day – January Soybeans
The information and opinions expressed below are based on my analysis of price behavior and chart activity Tuesday, November 12, 2024 January Soybeans This week, the January Soybean contract has been working it’s way lower, following last Friday’s monthly USDA report. Prices did get up to 10.44 after the report was released, but a lack of “new” news has subsequently …
Chart of the Day – December Wheat
December Wheat The information and opinions expressed below are based on my analysis of price behavior and chart activity Tuesday, November 12, 2024 December Wheat tested the 5.50 mark today, posting a low of 5.49 before settling down 13 ¼ on that day at 5.52 ¼. The week has started on a bearish note yesterday, with prices dropping to 5.51 …