Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

June Lean Hogs consolidated within the Monday trading range as profit taking took over and Hogs rested. Resistance remains at 88.175 and then 90.425. Support is at 85.375 and then 83.975. June is now the lead contract in Live Cattle. It rallied early and made a new life of contract high at 124.225. Looking at the continuous chart, June stopped …

Stay Calm/All is Well

Steve Bruce General Commentary Leave a Comment

                                The media is focusing on the soggy conditions in the northwestern quadrant of the corn belt and it does appear that we’ll have a difficult time getting the corn crop in on time  this Spring if we get it in, at all! If we get it in the ground there’s abundant top and sub soil supplies to sustain it …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

June Lean Hogs opened strong, gap opening higher and trading to the session high at 88.875, which is just above resistance at 88.175. It collapsed and traded down to the session low at 85.325. It spent the rest of the session consolidating before an end of day rally took price up to 87.95 and it settled nearby at 87.80. The …

Weather Sensitive

Steve Bruce General Commentary Leave a Comment

                                Funds continue to stay in their short position in grains. End users have taken coverage for a couple of months while producers remain the chief long. It’s a stalemate as we might have to wait until harvest in wheat to see which side is right. Producers might be selling at harvest but, they’re not going to lock in a …

Grain Spreads: Fund Dilemma

Sean Lusk General Commentary Leave a Comment

In my opinion funds have enjoyed a prosperous 2019 so far building and amassing shorts on rallies especially in corn and and wheat. In my estimation managed money shorts in corn pushed out to 220 K, and in all wheat classes 130 K. They are short beans and meal, but to a lesser percentage. It is interesting that you have …

Time of the Season

Steve Bruce General Commentary Leave a Comment

                                We need a lot of days of below normal precipitation to dry out Nebraska, Iowa and Wisconsin to prepare for corn plantings. The NOAA recent flood advisory map of those states doesn’t look so good as per getting the crop in early. On the other hand the aquifers are getting a much welcomed fill up. As stated in previous …

AG TIME

John Walsh General Commentary Leave a Comment

Mixed bag today. The soy was a bit lower led by soy oil. The palm oil has broken this week with some future changes in the blending rate. The reality (imo) for 2019 is that the palm could appreciate. The usage indicates a production deficit for the year. The stocks have been ample, however, so price increases won’t be explosive. …

Weather Focus Ahead

Steve Bruce General Commentary Leave a Comment

                                There appears to be old crop quality concerns with the wheat market yet, new crop  looks good in both Europe and the U.S..  Funds are short with an edge but if anyone wants to get out there’s a lot of room to the upside as producers/farmers need to see a massive rally and/or get to harvest before considering selling. …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

April Feeder Cattle and April Live cattle consolidated within yesterday’s trading ranges. If April Feeder Cattle breaks down below 143.75, a test of support is possible at 142.425. Support then comes in at 140.775. If 143.75 hold, more consolidation is possible. If April Live Cattle breaks down below 125.80, a test of support at 124.30 is possible. The rising 100 …

Grain Spreads: Simplicity

Sean Lusk General Commentary Leave a Comment

I’m going to keep it short and to the point today. A couple very short term bets and long term view on grains with some inexpensive trades that to me make some sense. Corn : Reasons for rally:potential Bullish Seasonal (April-June). 200 K shorts in market according to COT data and recent open interest. Is China buying on trade deal? …