COMMENTARY: Meal gained as unwinding long bean oil short meal is in force. The oil share has broken approx 4% in the last week. The weather has moderated. The exports have slowed. The crush pace may very well be over stated. The market will eye the acreage at month end for help with the direction. As mentioned yesterday, the weather …
Grain Spreads: Soy Correction
Commentary The soybean complex has been routed the last six sessions as funds have hit the sell button en masse following last week’s WASDE report in my opinion. After making a pre report high at 16.23, July beans have fallen approximately $1.80 to today’s low at 14.42, then firmed slightly to close at 14.48. That is over a 10 percent …
Livestock Report
Walsh Trading Daily Insights Commentary July Lean Hogs gap opened lower at 117.10, which is just below support levels 117.29 (21 DMA) and 117.20. This proved to be too big a hurdle to overcome as it turned out to be the low of the day. Price grinded higher the rest of the session, making the high at the end of …
Soy Market Commentary
COMMENTARY: The soy complex in general has exhibited weakness. The USDA report took the edge off the market with the slight uptick in the carry over. In addition, the weather has moderated in some of the belt. The market seems to also be taking the posture that the critical period for beans is July August. This is true. It is …
Grain Spreads: Northwest Ratings
Commentary Updated forecasts with better rain chances and cooler temps had grain markets reeling on last nights open through today in my view. Crop conditions were just released after the bell. Corn’s good to excellent rating dropped 4 points to 68 percent from 72 percent last week. Number one producer Iowa fell 14 points to 63 percent. Minnesota dropped 11 …
Market Commentary
AG SOY The USDA report today was mostly as expected . The 20/21 carry 135 million bu. The 21/22 carry a bit larger than anticipated at 155 million bu . The reality is both are still tight ending stocks. There exists no global tightness. However, due to the extreme situation in the US, this years bean crop is very important …
Market Commentary
AG SOY The beans were under pressure today . The WASDE report tomorrow may have been a reason there was liquidation today . A few thoughts to consider . Tomorrow the USDA should confirm the recent carry numbers in soy. The market is looking at A recent run up that was and is essentially fueled by bio diesel demand . …
Livestock Report
Perspective Commodity Snapshot Template Walsh Trading Daily Insights Commentary July Lean Hogs consolidated within Tuesday’s trading range forming an inside candlestick. It traded mostly in the lower end of the range, but couldn’t gain any downside steam to take advantage of the Tweezer Top candlestick pattern. Tweezers are considered short-term reversal patterns and since it has occurred at the contract …
Grain Spreads: Meal Plan
Commentary The hyper sensitivity over US weather as it relates to the soy sector has begun in my view. This week the trade got its first look at bean condition and the results were mixed at best. Overall good to excellent condition came in at 67 percent versus expectations of 71 percent. The trouble spots are in the Dakotas which …
Livestock Report
Walsh Trading Daily Insights Commentary July Lean Hogs opened lower and rallied to the session high at 123.60. This is the exact same price as Monday’s high and is called a Tweezer candlestick pattern. Tweezers are considered short-term reversal patterns and since it has occurred at the contract high, it would be a potential bearish reversal pattern. After making the …