Grain Spreads: Beans in the Teens

Sean Lusk General Commentary Leave a Comment

Commentary    Beans closed deeper in the teens today on two fronts. I included a weekly continuous chart and we closed above last Augusts high. It appears they may test the ten percent higher for the year threshold at 1477 sooner than later in my opinion. The rally today comes on two fronts in my opinion.  First, there was noise …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary April Lean Hogs gap opened higher, pulled back to close most of the gap then rallied the rest of the trading session. The gap is from the Wednesday high (91.40) to the Thursday low (91.475). The rally took price past resistance at 93.50 to the session high at 94.475. Price dipped at the end of …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

April Lean Hogs is now the lead contract as its volume has surpassed the February volume. It opened higher and traded to the session low at 88.05. It grinded higher the rest of the session and made the high at 89.40. Settlement was near the high at 89.275. A failure from settlement could see price re-test support at 88.325. If …

Grain Spreads: KC/Chicago Wheat

Sean Lusk General Commentary Leave a Comment

Commentary The wheat markets went into the January 12th WASDE report on a downer, having retreated over a dollar in the last 15 days. USDA added more fuel to the bear fire in my view with increases in carryover and reduced exports sending prices into new lows on Friday Jan 14th. December 1 stocks were 1,390 billion bushels, down 18.5% …

Grain Spreads: Bean Spreads

Sean Lusk General Commentary Leave a Comment

Commentary The USDA’s January WASDE was released this morning at 11 am Central. They noted for soybeans that harvested acreage fell slightly while yields rose slightly versus last month, resulting in a 10 million bushel production gain overall versus November (about as expected) at 350 million bushels versus 348 million the average trade guess.  That data carries through the balance …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary February Lean Hogs continued on its downward trek, trading past support at 77.80 to the session low at 77.55. It was able to bounce back a touch and settled just above support at 77.85. The high came in at 78.50. Lower slaughter levels due to the worker shortages continue due to the expanding wave of …

Weekly Bitcoin Futures Commentary

Peter Ori General Commentary Leave a Comment

Bitcoin (BTCZ21) trading just above $ 47,000 as of this post with a volume of 16000 and range trading between $41000 TO $59000 the last few months. Pressure in Bitcoin is still from the new corona virus threat in my view. Also weighing on Bitcoin is potential FED/FOMC action and inflation issues. Near term support levels in Bitcoin futures have been tested amid the Monday low at 45,730. This comes as over 1.2 BILLION Bitcoin Ethereum …

Grain Spreads: Meal Leads

Sean Lusk General Commentary Leave a Comment

Commentary In my opinion, soybeans were led today by a rally in soymeal. Speculation that Managed money funds bought over 10K contracts putting them long approximately 50k contracts. The market is also focusing on South American weather, which continues to offer a dry outlook through much of Southern Brazil through and Northern Argentina over the next few weeks. In my …

Grain Spreads: Bean Counting

Sean Lusk General Commentary Leave a Comment

Commentary Today, the USDA reported lower-than-expected export inspections of 1.724 million metric tons for the week ended Dec. 9, down from 2.334 (MMT) the previous week and short of expectations ranging from 1.9 (MMT) to 2.3 (MMT). However marketing year to date soybean shipments exceed the seasonal pace needed to hit USDA’s target by 10 million bushels. The big question in …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary February Lean Hogs opened lower, rallied to the session high at 81.225, closing the breakdown gap from the low on December 3 at 81.20 to the high on December 6 at 80.925. With the gap closed, sellers took over and the market broke down to the low at 80.20. The breakdown took price just below …