Pre-report estimates and average trade guesses ahead of tomorrow’s 11 am central time WASDE report come in as follows. The average US November corn yield estimate is 180.0 BPA with the soybean yield at 52.8 BPA. This would be down .7 BPA from October on corn and down just .1 BPA in soybeans. There is noise in the market that record …
THE AFTERMATH
MACRO BACKDROP: Welcome back readers. Today is the first day following the results of yesterday’s midterm elections. Democratic majority control has returned to the House of Representatives. Republicans have retained the Senate. Okay, now that’s out of the way. Many analysts had called for this outcome. As of just shy of 8am CST on 11/7, the equities futures markets seem …
Livestock Report
Cattle markets broke down through the lower end of their trading ranges on Monday, November 5, 2018. December Live Cattle traded below the October 12th low at 116.025 and broke down to support at 114.65, making the low at 114.35. It bounced from here and settled at 115.325. If settlement holds on Tuesday a test of resistance at 116.55 is …
Grain Spreads: Voices
We mentioned on Tuesday (10.30) that news on trade with China could enter into the market at anytime in the form of a tweet or other social media forum that could prop up grains at a moments notice. We witnessed just that yesterday from the President. If only our predictions resulted in guessing the correct Power and Mega ball numbers. …
AG TIME – and the Hits Just Keep on Coming
I want to preface today’s post saying that, we all are entitled to our opinions in the market. No question about that. In addition, we all are wrong. The markets are difficult. Certain things I am reading are causing me some serious questions. Today we rallied due to the fact that the President has scheduled a meeting with the Chinese …
Livestock Report
Cattle and Hog markets continue to trade within their trading ranges. Cattle markets traded back to the middle of their trading ranges while Hogs made a new high then fell back into its range. January Feeder Cattle held its 200 DMA (147.70) and bounced. It traded up to resistance at 149.975, making the high just above it at 150.40 and …
Wheat, FC Meal, Has it turned
Good Wednesday A review of the recent 5% swings perhaps. ALERT – S and P’s, Dow, and Nasdaq all have hit my olive line extremes. 1 st Time Down. This is my condition live. Does the stock complex bounce back to the highs in late December. If you were waiting to buy monday, when the depth of TV hype was …
RBOB OPTION STRATEGY
It appears that refiners and producers are almost fully back on line from annual maintenance and upkeep, also repairs from Hurricane Michael storm damage. I think RBOB could move lower the last price of this writing is 1.7860. Oil storage and production are up and soon refined product could also strengthen. The demand while still solid is lower because of …
Livestock Report
Cattle and Hog markets continue to trade within their trading ranges. Cattle markets are trading in the lower end of their ranges while Hogs are trading in the upper end of its range. January Feeder Cattle broke down and made a new low (147.575), challenging the 200 DMA at 147.70. It held and Feeders settled at 148.10. A break down …
Live Cattle Option Strategy
It appears that Funds bought Cattle this year because long open interest has increased, a solid base may have formed in Feb Cattle above $119.00 and $120.00 last at $122.27, weather conditions are favorable although wet. Cash has held steady while futures have taken some profits and open interest would indicate that some futures contracts spreading out of December into February. …