Walsh Trading Daily Insights Commentary December Lean Hogs rallied to the upper boundary of the trading range, making the high at 64.80, which is right at resistance. It settled nearby at 64.575. So, even with the rally Hogs are still trading within the 61.80 and 64.80 support and resistance zone, with the high at 64.85 and the low at …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs rallied today, gap opening higher and trading to the upper end of the trading range, making the high at 64.625. This is just below resistance at 64.80. Hogs pulled back and settled at 63.875. So, even with the rally Hogs are still trading within the 61.80 and 64.80 support and resistance zone, …
Grain Spreads: Bull Run
The grain rally up and through harvest so far has been impressive and comes on a few fronts. Dry August weather in the US apparantly reduced a potential bin buster crop to an average one. This comes as the market is also gearing up for USDA’s Crop Production and Supply & Demand Report (WASDE) released Friday at 11am Central. Pre-report …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs stayed in neutral on Monday, trading both sides of unchanged and settling at 62.65, just a couple ticks higher on the day. Hogs have been trading within the 61.80 and 64.80 support and resistance zone, with the high at 64.85 and the low at 61.25 since the December contract took over …
Soy Market Commentary
Commentary: The soybeans were quiet while the products had a large correction. The USDA will release numbers this week indicating changes in the stocks (reductions). The average guess feels that will be the case in both beans and corn. The beans have put on a healthy rally due to Chinese purchases. The question now is whether the purchases will all …
Soy Market Commentary
Commentary: The soy complex can be looked at in two separate ways in my humble opinion at present. First, flat price. The beans and meal remain near the recent highs. In reality at high levels relative to the stocks, as the way I see it. This lofty price is due to the exceptional purchase pace with Chinese buying. The Brazilian is …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs stayed in consolidation mode on Friday, showing some early strength before weakening into the close and settling slightly lower on the session at 62.50. Hogs have been trading within the 61.80 and 64.80 support and resistance zone, with the high at 64.85 and the low at 61.25 since the December contract …
Grain Spreads: Demand Driver
Commentary: USDA’s daily export sales reporting service announced private exporters sold 264,000 MT of soybeans to China and another 252,000 MT of soybeans for delivery to unknow destinations, with both for 2020-21 delivery. Unknown in the trade is C-H-I-N-A. This follows yesterday’s sale of 120K tons of soybeans to Egypt. Two consecutive sales in a row to start the month. …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs opened higher and took back some of Tuesday’s losses, consolidating within yesterday’s range and settling in the upper middle of the Tuesday range at 63.10. Thursday morning will show export demand and this could impact futures. The African Swine Fever up-ticked by 2 new cases in Germany’s wild boar population. The significance …
Livestock Report
Walsh Trading Daily Insights Commentary December Lean Hogs opened lower and fell apart. Constant chatter about the larger than expected number of hogs weighing over 180# took its toll on price today, taking the December Hogs down to the lower part of its 2-week trading range. The December contract has traded from 61.25 low to 64.85 high since becoming the …