KC wheat has steadily gained vs Chicago since early December tightenting over 30 cents and trading up to a .382 Fibonacci retracement from the early Dec 19 low (-98) from the June highs at (-9). See Chart. The near term high is 64.5 KC under basis March 20 futures. The spread was weak today with KC losing two cents vs …
Livestock Report
The February Lean Hogs contract opened below the 100 DMA (67.21) at 66.975 made the high at 67.05 and then broke down. It blew through support at 66.55 on its way to the session low at 65.575. This is just above the December 2nd low at 65.40. Hogs repeatedly attempted to pierce 65.575 but couldn’t do it and it …
Livestock Report
The February Lean Hogs contract consolidated within the Thursday range. It traded up to resistance at 67,89, making the high just above it at 68.225 and it made the low just below the 100 DMA (67.20) 66.875. It settled at 67.25. A failure from settlement could see price revisit support at 66.55 and then the December 2nd low at 65.40. …
Grain Spreads: Soybean Gameplan January 10th Crop Report
Spot soybeans saw 2019 close at 955.4. It finished the year up approximately 35 cents. Not much of a percentage gain but up nonetheless. Demand remained dismal amid the ongoing trade war with our biggest soy buyer China. To a lesser extent continuing feuds with Japan, the EU, and the constant delays with NAFTA 2.0 certainly didnt help. Any rallies …
Livestock Report
The February Lean Hogs contract opened lower, traded to the low at 68.60 and then rallied past resistance at 69.90 to the high at 70.20. This is just below the declining 13 DMA now at 79.34. It consolidated below the high, then broke down and settled at 69.025. Hogs are trying to climb into the upper end of Friday’s range …
Grain Spreads: Gameplan January Report: Corn
I have something to consider going forward into Fridays report regarding corn and how one might trade it. I see volatility picking up into Fridays Janaury 10th USDA report followed by the suppossed Phase One Deal signing with China on January 15th. Should we get any specifics on increased demand from China, we could trade over 4.00 in spot March …
Livestock Report
The February Lean Hogs contract made an early attempt to rally past the Monday high as it traded up to 69.35 for the session high. The failure to hold on to the high resulted in a break down which sent price back down to support at 67.80, making the low just above it at 68.025. Once again, the skittish …
Livestock Report
The February Lean Hogs contract opened above the 68.75 resistance level and then failed to hold it and saw some follow through selling from Friday’s limit down move. It traded past support at 67.80 and the rising 50 DMA at 67.65 to the session low at 67.55. It was able to hold the 50 DMA and recoiled, trading up …
Livestock Report
The February Lean Hogs contract gap opened lower, closed the gap as it made its high at 70.90 then fell apart at the seams. It went down limit and settled down limit at 68.55. Settlement was below the 68.75 support level. This collapse erased the gains that started with the rally on December 13, 2019 when it broke out above …
Livestock Report
The February Lean Hogs contract opened higher, broke down to the low of the day at 70.775 and then rallied to the high of the day. It made the high at 72.60, just below resistance at 72.80 and pulled back settling near the open price at 71.55. This is a new high for the fledging break out, but it couldn’t …