March Copper Futures About a month ago I wrote a bullish copper report. I know belief we are close to the termination point of this two year advance. The overhead convergence zone on the weekly price chart comes in just below 3.52. Currently It appears that there will be noticeable momentum divergence in multiple time-frames if …
South America Grain Weather Issues from WxRisk.com
For the complete Report, CLICK HERE. For those interested in grains and livestock, Walsh Trading hosts a FREE weekly Grain and Livestock webinar. This webinar is hosted by Sean Lusk, Director and Ben DiCostanzo, Senior Technical Analyst with Walsh Commercial Hedging Services. Sean and Ben look at where the markets currently are and more importantly what hedgers and investors should …
Hangin by a Hoof: February Live Cattle
February Live Cattle The February Live cattle market managed to somewhat keep it together and finished down .800 just off the lows of the session. They’re are a few noticeable technical developments as far as I see it. The process of top-down analysis calls for the study of longer term charts and working down to lower time-frames. By …
Grain Spreads
Soy Complex Old crop new crop corn and bean and meal spreads continue to trade range bound into Friday’s key USDA report. While funds press the short side in outright soybean contracts, May/Nov 18, July/Nov 18 and July/Dec Soy meal spreads have barely budged lower. This most likely states that longs are liquidating ahead of the crop report across the …
Livestock Report
Live Cattle The February Live Cattle tested support at the 200 (117.10) and the 100 (116.925) DMAs, making a new low for the down move at 116.70 on Tuesday, January 9, 2018. Price once again respected these support levels and by the end of the session was testing the session high (118.00), reaching 117.975 and ending the day at 117.95. …
Livestock Report
Live Cattle The February Live Cattle gap opened lower (119.00) on Monday, January 8, 2018. This is below the 119.15 support level and price continued lower, trading down to support at the 200 (117.075) and 100 (116.825) DMAs, making the session low at 116.775. It recovered somewhat from the moving averages and ended the day at 117.55. A recovery from …
Canned Beans: March Soybeans
March Soybeans It is difficult for me at this time to make any solid conclusions as to the bean market’s next move. The apparent structure of the market since the high’s seen in the early summer of 2016 is an absolute mess showing no signs of conviction. I will proceed to break down the technical landscape dealing …
Grain lull, Crude over $61 sale?
Crude Oil- Did we just race up in price to this olive line sell level $61.00-ish? Are extremes in vertical price thrusting higher to produce my red diamonds? See chart. This is something if bearish to keep a close eye on. April CLJ is $61.00-ish +/_ 12c. We are over now, watch back under maybe. The olive line is my …
Dehorned: February Live Cattle
February Live Cattle The recent rebound in the live cattle market stemming from the low of 117.575 seen in early to mid December was exposed to be as unstable as it appeared. I will say that I thought price would be hard pressed to violate the inner low of 122.650 which I had previously identified as a potential …
Grain Spreads
There were no fireworks to speak of regarding the grain market to finish the first week of 2018 as a weaker than expected export sales soured any buying. Corn and wheat sales for future shipment came in both at marketing year lows at 101 K metric tons and 131 K respectively. While expectations were dampened due to it being a …