Bull markets need to be fed everyday and bear markets feed on capitulating bulls…….Neither bears nor bulls have been eating much the past few weeks. Ask Option sellers what happens to naked volatility sellers! Sometimes we just have to accept sideways and have the discipline to make the trading decision to decide not to trade. Hopefully, we’ll get some …
Livestock Report
Cash trade higher on Friday with cattle sold on a live basis between 123.00 and 126.00 depending on the region. Dressed sales took place between 198.00 and 200.00. April futures responded by inching higher as they rallied to 127.725 and settling at 127.00. Resistance remains at 128.10 and the Thursday high at 129.475. A failure from settlement could see support …
AG TIME – TAKE NOTE
This could be a very interesting week and month for the ag related sectors. The govt reporting agencies will start releasing numbers that were affected by the shutdown. There is much to consider at present. The Chinese have kept their word and have added additional soy purchases. The question remains for the soy complex – does this really matter? The …
USDA Friday
Wheat is special! Unlike corn and beans, farmers do not typically hold on to inventory and board rallies don’t get it to move but, basis pops do the work to get it to where it is desired! And, there’s still a little concern and contention with the vomitoxin variable with deliverable stocks. Some end users are reluctant to …
Grain Spreads: Sea of Red
Grain markets have traded range bound the last few sessions as intra-day or overnight rallies find willing sellers as buying dissipates. The same can be said when we have tested support as in meal, beans, wheat, and corn. With a Chinese delegation in Washington this week, it seems that shorts aren’t that comfortable getting caught in front of a potential …
AG TIME – Back and Forth
I don’t have a lot to comment on. The complex is paying attention to rhetoric, theories, hopes and dreams, in my humble opinion. There is a sincere hope that the trade conflict is sorted out. As I have said, it is my thought that it will be, to the favor of the US. However, that does not change a couple …
Feed the Bull!
The old adage of needing to feed a bull everyday appears applicable with today’s price action. Wheat was impacted by lower than expected offers to Egypt in its tender for early March arrival and shook off the fear of winter kill in those areas in the Heartland which will slip to well under 10 below Fahrenheit without snow cover. …
Livestock Report
Cash traded from 122.00 – 126.00 on a live basis (depending on region) with the bulk traded at 123.00. Dressed sales ranged from 197.00 – 200.00 with the bulk at 197.00. Slaughter is estimated to be 610,000. Cutouts remain high as Monday cutouts showed choice up 0.39 to 217.40 while select dipped 0.42 to 211.61 on light to moderate demand …
AG TIME looking out
The market was quiet. Looking down the road. The market can bounce some more here if the funds want to buy, for whatever reason they do. However the soy complex, especially beans and meal are fighting a structural problem in my opinion. The beans are just over supplied. Regardless of the draw down in the South American crop. The lack …
USDA February 8 and ??
As of this writing there is no definite word as to when the USDA will release its December 1 stocks-in-all-positions report as well as winter wheat seeding estimates. The next Supply/Demand report will be February 8! Hopefully, they’ll break the suspense and announce when they will release the stocks, seeding and final production figures! The US will be …