Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

The December Lean Hogs opened lower and broke down hard nearly going down limit. It traded just past the 67.80 support level making the low at 67.725. It bounced at the end of the session and settled at 68.15. Thursday’s low is below the low of the consolidation range we’ve been in for the past 6 trading sessions. If price …

Using Options and Technical Analysis in a Soybean Countertrend Strategy

Timothy Brace General Commentary, Grains Leave a Comment

After a rally in Soybeans uncharacteristic for this time of the year, the Nov 19 soybean futures currently trading at 930, could be poised to make a potential near-term move to test the key 961-963 resistance area. Should this happen, an interesting counter trend speculative or hedging strategy, could consist of the sale of the Nov. 2020, 1100 – 1200 …

Grain Spreads: Wheat/Corn

Sean Lusk General Commentary Leave a Comment

Chicago wheat has broken out vs Corn, KC wheat, and Minneapolis wheat contracts. Trend and Index following funds have flipped from a net short position of 13 K short to 2500 long in Chicago. We have seen heavy buying the last two days by funds to take them from a small net short to a net long. DEC 19 Chicago …

Ag Thoughts

John Walsh General Commentary Leave a Comment

There is a bit of opportunity at present in my opinion. The market presents opportunities at times that need to be seized. As we have seen a roller coaster over the last couple years from profit to loss quickly in the Ag sector. I believe the lower end of prices for both beans and corn have moved up from a …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The December Lean Hogs contract consolidated within Tuesday’s trading range forming an inside candle. It settled at 70.625. Settlement was below the 71.325 – 71.85 zone. Wednesday’s failure to make a new high puts pressure on Hogs to resume the down trend. Yesterday’s limit move higher is below the 9/30/2019 high at 72.725. If price fails to bounce back …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The December Lean Hogs contract opened at yesterday’s settlement price and took off. It rallied all session going limit up at the end of the day. It settled up limit at 72.125. Limits will expand for the Hog complex to 4.5 handles. Settlement was above the 71.85 resistance level and could key trade for Wednesday. A continuation higher could …

Grain Spreads: Old Crop/New Crop

Sean Lusk General Commentary Leave a Comment

We have seen sizable bounces in old crop/new crop spreads of late given the rallies in corn and soybeans from the September lows. The late growing season has extended questions on what final production might be. The USDA has been very optimistic with corn yields and production and has been consistent in their view throughout the year. Yield and ending …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

The December Lean Hogs contract opened higher traded to the high of the day at 70.925 and failed. It broke down and trade lower the remainder of the session and made its low at 68.375. It formed a bearish outside day candle as its range engulfed Friday’s range. It is also consolidating as the past 4 sessions has formed a …

patience can offer clarity

John Walsh General Commentary Leave a Comment

The markets seemed disappointed today the Chinese weren’t in the market buying Ag goods with abandon. I think it may be fruitful to put the outlook into a short term and a long term approach. In the near term the soy market can, and I believe will rally especially in beans and oil. This rally will be fueled by not …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

   The December Lean Hogs contract opened higher pulled back to the session low at 68.675 then rebounded and traded to the high of the day at 70.80. It once again pierced the 69.80 resistance level only to fail at the end of the session to close at 69.60. It was a new high for the week but is still …