The soy remains under pressure. There are not a lot of new stories out there. The Harvest progress domestically is progressing nicely. The long term weather outlooks support more of the same. The South American planting, especially as it relates to Brazil, is advancing rapidly. The Brazilian is approx 50% or so planted. The weather outlook there remains favorable except …
Grain Spreads: Slight Movement by Funds
Both KC and Chicago continued their descent again today as both traded and settled below the 5.00 level. The question going forward for traders possibly will shorts put on the breaks and potentially buy into the weekend? There’s talk that the Russian Ag minister is meeting with major exporters this weekend giving thoughts to export quotas and tightening supplies. There …
Livestock Report
The cattle markets couldn’t follow through to the upside on Tuesday, October 23, 2018. Both markets broke down and traded below the Monday lows. Buyers came in and lifted prices from the lows and they settled in the middle of their trading ranges. January Feeders can trade above 152.30, a test of resistance at 153.50 is possible and then 154.25. …
AG TIME – Global Shock Waves
The day was fueled by talk of the big downs in stocks. Both domestic and all over the globe. Interesting. The US clawed back. My thoughts on the matter. The world is rebalancing. Plain and simple. The US is regaining its place in the pecking order. We have come from a decade of globalism, actually two decades. As President Trump …
Dow down 500, Grains, Meats holding?
LOTS GOING ON HERE. It is my opinion that a Chinese Stock market crash is not out of the question. Even before year end. The dow alert. It is only up $50 on the year. FINANCIAL Stocks – call, there are many bearish items popping up daily. Protection from China Plunge potential? The Chinese market is down big already the …
Livestock Report – Cattle
The cattle markets responded in a bullish manner to the Cattle on Feed report on Monday, October 22, 2018. Both markets opened higher and rallied throughout the trading session. January Feeder Cattle traded up to resistance at 152.30, reaching its high at 152.00. It settled at 151.725. Continued strength could push price up towards resistance at 153.50 and then 154.25. …
AG TIME – What’s the Difference
I have been traveling since last Wednesday, therefore no blog posts. I was fortunate enough to have been in Des Moines, Omaha, and Lincoln. All three exceptional cities populated with nice people. The weather was excellent, the Nebraska game equally as excellent. Thanks to everyone for the hospitality. It is my thought that the opportunities that present themselves now, more …
Livestock Report – Cattle on Feed
Cattle markets continued its lethargic trading on Friday, October 19, 2018. Traders seemed to be reluctant to push price in any direction in front of the Cattle on Feed report, preferring to stay range bound. Cash trade was quiet also ahead of the report. Cash has traded between 109.00 and 111.00 on a live basis and dressed at 173.00 to …
Grain Spreads: Pressure
Another two-sided trade in grains today as volatility waned as the trade looks for reasons to buy. Weather issues and a not as bearish as feared USDA report last week were reason for funds that were short corn and beans to cover. After Mondays rally that pushed beans and corn 10 percent higher from their September lows, funds promptly sold …
When Flying To Safety Gets Confusing
MACRO BACKDROP: Finally dropping my comments for this week, I say Happy October 19th to all of my readers. Today marks the 31st anniversary of the dreadful events of Black Monday. Despite this, as of 10:45 a.m. CST, U.S. markets look to be anything but “dreadful,” trading upwards a bit less than 50 basis points in the underlying S&P 500 …