The market has been moving around since the usda report. The oilshare has been whipped back and forth. The close today at approx 33% could be important. As Ive said the 33.7% level will be important. A test of that level could make way for a move to 35.7% The outlook has changed a bit in the short run with …
Livestock Report
The December Lean Hogs contract followed through to the downside dropping to 67.85 before a late session recovery took price higher and it settled at 69.10. The ranges continue to be wide with the early attempt to rally stopping at 71.000. The low was above support at 67.80 and the Monday low at 67.70. Buyers coming back into the market …
Livestock Report
The December Lean Hogs contract went down limit on Tuesday after making a new high for the up move on Monday. It didn’t settle limit down however, settling just above it at 69.925. A police officer shooting a Hong Kong protestor put trade worries on the front burner again in this “never-ending” soap opera. Equity markets were pummeled today, adding …
Grain Spreads: New Quarter New Game
For the first two days of the week, corn has gained 20 cents and filled the gap on the daily chart at 392.6. Beans are up approximately 36 cents. Chicago wheat up just over 11 cents. The grain market got a surprise yesterday as the USDA announced that Sep 1st on farm stocks came in at 300 million bushels less …
overview thoughts
There are many things to consider in the macro market. The global outlook is offering both opportunity and risk. It is important to have a quantifiable approach and follow it, or the road to peril will be quick and certain. The energy markets are showing weakness. There are many considerations regarding the political picture globally especially as it relates to …
Livestock Report
The December Lean Hogs contract made an attempt to break out above the 71.325 – 71.80 resistance zone. There was also trendline resistance at 71.975 just above this zone. It made the high at 71.75. The failure at resistance let to a collapse and futures traded down to the session low at 68.775. It was able to recover off …
follow the vegoil
The soy complex overall was uneventful. At times these mundane days actually can present quiet opportunities. The bean oil again climbed to 33% oil share. The recent high was approx 33.7%. It is my thought the market will test and ultimately take that level out. The global vegoil demand remains stout overall. The ARG price set back this week,while brazil …
Livestock Report
The December Lean Hogs contract broke out above the September 17th high (70.60) on the continuous trading to a new high at 71.575. This is within the 71.325 – 71.80 resistance zone. There is also trendline resistance at 71.975 just above this zone. It settled at 71.40. This is a critical area for Hogs. A break out above this …
Grain Spreads: Take the Collection
Interesting times here across all market sectors. Grains have been no exception. Early frost/freeze events that might of caused sizable reductions in production for corn and beans this year hasn’t shown up. We have burdensome ending stocks currently and yet the market wont break. Recent demand has been good. China most recently have been in with some good will purchases …
play the long ball
The soy is bouncing and has some reason to at present, given the Chinese purchases and the weather concerns. The soy yields are something to watch as harvest gets underway. This of course will be important . It is equally important to remember the global soy situation remains more than ample. The SA planting has some weather concerns. However, it …