Grain spreads were for the most part quiet to start the week as we saw some slight slippage in wheat versus corn, while old crop new crop bean and meal spreads showed minimal gains. Outright beans were the big mover as managed funds last week sold a sizable 60 K contracts. This took them from a net long to a …
Featureless End To a Big Week In Bonds
A very subdued pre- holiday session for Friday 12/22 even after some further strong economic numbers were released in the morning. New home sales are up and consumer sentiment slipped a tad but remains high. Yields settled around 2.84 for thirties and 2.49 for tens, a big gain this week for both but unchanged on the day. Crypto -currencies had …
Daily Gold Review
Bullion on Bullion Gold settled slightly lower Thursday reversing the positive return from yesterday with the February contracts closing at 1269.2. Demonstrating further economic growth, the November Leading Economic Indicators came out this morning matching expectations after beating expectations in October. High consumer sentiment and manufacturing new orders were both sighted as main contributors by The Conference Board, the publisher …
Corn Nuts: March Futures
March Corn Futures Taking a look at the structural nature of March Corn’s recent yet modest advance from 446 it appears to me that this is the first hint in a while that this time may be a bit different. The theory of Elliott Wave contends that trends begin and end in 5 wave. With this in …
Beans dive again, but. Wheat up 4% OLB
Clients, Farmers, Ranchers, x-Floor Traders, Option players welcome Everything is live, cocoa, cotton although over, beans in day 12, wheat explosive up in my mind, WHCH ration spread OLB now higher (buy WH). Meats less so but USDA COT Friday 11am. Grains live. Lumber olive alert, Beans 3 diamonds conditions live Fri, list goes on as we go into …
Livestock Levels
Live Cattle The February Live Cattle contract opened at 120.45 on Wednesday, December 20, and made a meek attempt at a rally, trading to the high of the day at 120.80. This is right at the key 120.775 level. It broke down hard from the high, trading down past the 119.15 support level to test long-term trendline support at 118.10, …
Going for Gold
Gold settled higher Wednesday reversing the loss from the previous session and continuing the upward trend over the past week. It has now recorded positive returns for 5 of the last 7 trading days. We are still waiting to see if this is a short term bounce off of the lows seen on December 12th, or if this is a …
Grain Spreads
This is the inaugural grain spread report and it will identify inter-market spreads and calendar spreads going forward. It will also focus on some of the most popular relationships that are traded on the board including oil share, wheat vs corn, old and new crop bean and meal spreads, and other spreads I see opportunity in the near and long-term. …
Imminent Tax Cut Continues to Spook the Bonds
What a difference a few trading sessions can make. After printing multi- week highs last Friday and severely testing the long -term bears the ultra long bond triggered a downside breakout of a rising wedge on Monday and hasn’t looked back. News of higher sovereign supply, namely German bunds, started the avalanche off in the early morning hours and all …
Coo Coo for Cocoa: March Cocoa Futures
Coo Coo for Cocoa: March Cocoa Futures The recent selloff in the cocoa futures from the highs set on December 10th appears to be the terminating 5th wave of the sequence. Currently I do not believe this wave to be complete and see more downward pressure in the short term. My targeted zone converges level comes in underneath …