Commentary: Chicago Wheat vs Corn has pushed out to well over $2.00 making a near term high of $2.30 just a few days ago. Today the July/Chicago wheat settled at 2.14 over July corn ZCN. Tight ending stocks for wheat amid a less than certain outcome for the winter wheat crop is a big reason in my view. Corn on …
Grain Spreads
Commentary: Soybeans are starting to see pressure from a lack of demand amid sizable buying of Brazilian beans by China. There is noise in the market from Private crop scouts in Brazil that the size of Chinese purchases in March and April were record large at over 13 million metric tons per month. While China has made some US bean …
Livestock Report
Walsh Trading Daily Insights Commentary Another wild trading session on the livestock front as lower openings were negated by strong rallies, with cattle markets able to hold onto most of their gains while Hogs couldn’t hold their gains. With all the negative issues facing these markets any rally is encouraging. The uncertainty surrounding the markets continues to create wild market …
Soy Commentary
Commentary: The beans remain mid range of the last months trade. The fundamentals are not overly friendly given the global carry. However, the domestic numbers have been supportive. It is possible the Chinese start buying US beans going forward. The Brazilian has dominated over the last couple of months. This month as well. The pace is not sustainable with production …
Livestock Report
Walsh Trading Daily Insights Commentary The livestock rodeo show continued today with the horses jerking their riders to the ground once again. The cattle markets settled limit down, and hogs which have new limit levels at 3.75 handles, settled limit down also. Limits will be expanded for all markets with Live cattle expanded to 4.5 handles, Feeder Cattle to 6.75 …
Livestock Report
Walsh Trading Daily Insights Commentary The livestock markets continued their volatile trading on Wednesday, gap opening higher making expanded limit moves in various contract months and pulling back, with hogs unable to hold onto its gains while the cattle markets were able to remain strong. The April cattle markets were able to hold onto its limit move so Live Cattle …
Corn Commentary
Commentary: The corn rebounded today. Will this end the long decline?The biggest question is the domestic loss of Ethanol demand. The question of the US opening back up is important. The export pace has been reasonable. The USDA will release supply and demand on Thursday. There are many who look for an increase in stocks. I present some food for thought …
Soy Update
Commentary: The soybeans were steady overall. The bean oil was the leader to the upside. The USDA will release the supply and demand on Thursday. There are a couple considerations at present besides the report. The Argentinian, and now the Brazilian producers are having difficulty both moving and harvesting this years production. The interior in some areas is locked down …
Grain Spreads
Commentary: I’m seeing some possibilities within the wheat sector for consideration. The ideas come on two future possibilities for consideration. First soft red winter wheat ratings released this afternoon show very good condition in the soft red winter states. Good to excellent condition ratings come in as follows per the USDA. Illinois at 62 percent, Indiana 67, Michigan 55, and …
Corn Commentary
Commentary: The corn continues to erode. The overall fundamental picture remains heavy with concerns over the ethanol situation. The market has dialed in the ethanol staying closed for some time. If realized, it would reduce demand by a horrific amount. It is my thought that the market has dialed in a worse case scenario. This could be mitigated if things …