December Live Cattle recovered from Thursday’s loss on Friday, October 26, 2018. It formed a bullish outside candle as it traded back into the upper part of its 116.025 to 119.75 trading range. It made its high for the day at 118.80 and settled nearby at 118.40. Futures started the day on a weak note, opening below Thursday’s settlement and …
Grain Spreads: Wheat’s Revenge
It was getting ugly in the wheat complex with spec longs among others getting run out well below 5.00 amid yesterday’s rout. Both KC and Chicago contracts were staring at the 4.60 level should we have fallen hard below the last bastions of key support at 4.87 (Chicago) and 4.82 (KC). We have been bemoaning the lack of demand for …
Nasd FANGS buckle, Egypt Wheat?
ARP HERE, ALL OPINIONS,ESTIMATES,NEWS,THAT I PERCEIVE MOVE THE MARKET. I have talked for some time in my posts that stocks are overvalued. It is my belief the NASDAQ PE is silly high. My goal is to assist you in these extreme levels through the Olive Line. In my approx 40 years of charting and trading the markets, these may become …
Grains, Consecutive down now? Softs
EQUITIES – STOCKS It is my belief we may be in “The beggar thy neighbor economic cycle.” I can’t remember seeing action in the US like this. Perhaps in Europe and China. US stocks, I put out a OLS in the nasdaq100 at 7685. Nasdaq now has OLB below the market – give a call for levels. Nasdaq – I …
AG TIME FULL PRESSURE
The soy under pressure as harvest rolls on, The weather looks very solid to push harvest numbers. The South American weather has been good. There are a couple areas of concern creeping in. As said yesterday this is a normal scenario. It is impossible to plant a crop over the size area all of SA covers without some areas of …
Livestock Report
The cattle markets continued their choppy trade on Wednesday, October 24, 2018. Both markets rallied and tested upper resistance levels. January Feeder Cattle saw buyers come in and lift prices above resistance at 152.30 to the session high at 152.425. Sellers came in and took price lower and Feeders settled at 151.35. This below the 151.55 key level and follow …
AG TIME – The Numbers Don’t Lie
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 …