The Oct WTI trading session closed at 69.20, had a high of 71.46, a low of 6 and cash price is at 70.34 (-3.24), while open interest came in at 270,539. Lower on the day by -1.14 (-1.62%). CLV traded below its 50 day (77.84), its 20 day (75.04) and its 7 day (73.78) moving averages. Took out the $70 …
Grain Spreads: Wheat Leads Rally
Commentary The short covering is all the rage in the grain markets lately, with wheat leading the way while breaking out of the range that has contained it since July. Fundamentally, there isn’t a reason in my opinion that has abruptly entered into the market as Russian values hold steady and there are large tenders upcoming. Drought in portions of …
WTI-CLV 9/3/24
The Oct WTI trading session closed at 70.22, had a high of 74.41, a low of 70.1 and cash price is at 73.57 (-2.38), while open interest came in at 271,991. Lower on the day by a whopping -3.33(4.53%). CLV traded below its 50 day (78.09), its 20 day (75.23) and its 7 day (74.6) moving averages. We’ve now traded …
Hogs Make New High, Cattle Markets Bounce
October Lean Hogs made a new high for the recent up move, opening lower, making the session low at 81.925 and then rallying to the session high at 83.00. It pulled back from the high and settled at 82.225. The rally stopped just below resistance at 83.325 and the low was just above support at 81.70. Cash prices remain under …
Pure Hedge – Livestock and Grain
8/30/24 That was a wild trading day. The Livestock and Grain Markets all closed higher, after big price swings today. The Fats settled in the middle of today‘s trading range. October’24 Live Cattle were 70 cents higher today and settled at 178.60. Today’s high was 179.62 ½, and today’s low was 177.75. The Feeders settled near the middle of today’s …
Grain Spreads: Short Covering
Commentary China has been in buying 7 out of the last ten sessions and that has supported the bean market from near term lows in the 9.55 area in my opinion. New crop demand had been running well behind normal, but some signs of life are seen with these sales into China finally. We closed this week 27 cents higher …
Hogs Grind Higher
October Lean Hogs opened lower and made the session low at 81.10. It grinded higher the rest of the session to the high at 82.30. It settled near the high at 82.175. The grinding action saw price approach the Tuesday high at 82.475 and it didn’t have enough energy to take out that high, but settlement was near the high …
WTI 8/29/24
The Oct WTI trading session had a high of 76.91, a low of 74.05 and closed at 75.91, cash price is at 74.43, while open interest came in at 304,553. Higher on the day by 1.39 (1.87%). CLV traded below its 50 day (78.45) but above its 20 day (75.44) and its 7 day (74.74) moving averages. Crude oil gained …
Pure Hedge – Livestock and Grain
8/29/24 The Cattle Market looked heavy again today. The Fats and the Feeders were unable to even attempt a rally today, and they both settled just off their lows. October’24 Live Cattle were 72 ½ cents lower today and settled at 177.90. Today’s low was 177.50. The October’24 Feeder Cattle were 1.90 lower today and settled at 236.67 ½. Today’s …
Walsh Gamma Trader
8/29/24 COMMODITY BUY/SELL COST PER CONTRACT EXPIRATION GRAINS MAR’25 SOYBEAN MEAL BUY 270P 2.25 or $175.00/Contract 176 Days – 2/21/25 MAY’25 CORN BUY 500C 5 ¾ or $287.50/Contract 239 Days – 4/25/25 MAR’25 SOYBEANS BUY 880P 5 ¾ or $287.50/Contract 176 Days – 2/21/25 DEC’24 WHEAT BUY 600C 9 7/8 or $439.75/Contract 85 Days – 11/22/24 LIVESTOCK …