Commentary: Soy The beans have had a very significant move over the last months. The funds have built a significant position. The market has been boosted by the continual decline of the carry. The current number is 190 mil bu. This is low. The current stocks to usage is approx 4.2 %. This too is low. In managing ones thoughts …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs opened higher and quickly turned south to the session low at 63.60. This took out the November 2nd low at 64.10 and further entrenches a bearish theme to the Hog market. We are making lower lows and lower highs as news that pork prices in China continue to fall and it …
Grain Spreads
Commentary: The bullish inputs for corn keep coming this week and we are only two days into the week. The bullish news in my opinion comes on two fronts. First, yesterdays Covid 19 vaccine news from Pfizer propelled the stock market to record highs while sending crude oil futures three dollars higher, with todays close pushing it comfortably above $40.00 …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs opened higher from Monday’s settlement. It ended up as the session high (66.30) and then broke down making the low at 64.90. This is just above support at 64.80 and the rising 50 DMA at 64.775. December Hogs are still consolidating with the high at 67.60 and the low at 64.10. A …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs started the week off on a positive note as it opened higher from Friday’s debacle. It broke down to the low and then surged to the session high – all in the first 4 minutes of the day. The low was 65.25 and the high was at 66.575. The rest of …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs started election day on a positive note, gap opening higher and reaching the high of the day at 66.80. This was just above trendline resistance at 66.75 and above the key level at 66.55. This contained the hogs and price fell down to the lows at 65.15. It settled near the …
Grain Spreads:Paring
Commentary: Per the last positioning report from the CFTC as of Tuesday October 27th, the report showed managed funds long 745K contracts. That is if you combine the soy complex (beans, meal, bean oil), Corn, and Chicago and KC Wheat. Since 10/27/20, we have seen beans fall over 40 cents, corn over 25 and wheat almost 45 cents from high …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs gap opened lower and broke down to the session low at 65.825. Cutout prices have fallen this week and it seems traders fear that China is out of our market. We get the export sales report before the open and this will either confirm or disprove that notion. The reality is that …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs took Monday’s bullish outside candlestick and ran with it early in the trading session. It gapped opened higher and raced to the session high at 69.65. This is just below resistance at 69.80 and it proved to be too tough a challenge for Lean Hogs. Price collapsed from here and closed the …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs started the week on a weak note, making a new low, trading down to 65.30 then was able to garnish some strength making its way higher the rest of the session. It took out the Friday high and traded past resistance at 67.80 to the session high at 67.925. Settlement was nearby …