September Soybeans The beans market slipped slightly to test recently mentioned save level of 974 holding up just above at 975.4 at inner trend line support trow-back. Prices rise above first resistance level at 988 and extend to 995.4 before settling at 992.6. The market will have to hold above 982 to continue its advance. A hold beneath …
Livestock Report
Live Cattle The August Live Cattle opened (118.25) stronger on Thursday, July 13, 2017 and traded to the high of the day at 118.50. This was just above the 100 DMA (118.15) and the pull from the moving average was just too great for the market to remain above it. Price broke down and traded to the early session low …
Soybean Complex: Giving it Back
September Soybeans Today’s action sees prices violate through weekly low and unravel. Trigger levels were discussed in yesterday’s post. Contract slid to support zone of 979-977. This is a big level as we have reached the inner trend-line comeback , mid level Fib retracement and prior 4 wave low convergence point. Also,weekly range is already roughly 60 cents …
Buy Corn Break, 3.82 &
Farmers and Traders, This one is live now. Boy how things change fast from yesterday to today. We are down from 4.15 in two days but this presents a nice extreme from which has paid pretty well lately. The olive is the genesis of trading which is why it is so hard. Is this the corn drought play? All bets …
Corn-clean bin out $4.15
Good Morning, This looks like the 50 cent break, 1017 is where they all seem to swing as a pivot. Bean lower on week in Aug, 1001, low. 20 cents air under. 1033 was half way red line. This is late and I didn’t think it mattered or anyone traded but Sept missed, 1038 1/2 an OLS off memory. Bean …
Livestock Report
Live Cattle The August Live Cattle grinded lower into the fedcattleexchange auction and then took off to the upside as a better than expected auction led to more aggressive cash purchases. The fedcattleexchange auction had 2,665 head for sale with 1,907 sold. The prices ranged from 117.00 to 118.75. The higher than 118 trades seemed to spur the futures higher …
Daily Gold Report
Gold rose on Wednesday after comments from Federal Reserve Chair Janet Yellen curbed speculation that U.S. interest rates would rise more than once this year. In testimony for delivery to Congress, Yellen said the Fed would not need to lift rates all that much further to reach current low estimates of the neutral fed funds rate. That weighed on the dollar and …
Mid-week Technical Observations: Soybean Complex
September Soybeans Prices get a touch slippy after they fail to hold above 1031.6, yesterday’s hanging-man candle’s body low. This scenario was covered in Tuesday’s posting. Contract trades lower to 1015.4 before recovering to settle at 1025.2. A continued hold below 1031.6 opens the door for some liquidating pressure. A violation of today’s lows will break speed support …
USDA grains down, Meats limit up
Good afternoon, I hope some of you got a chance to market some of last years crop on this corn rally up at 1st of 3 sell level 415 a bu. This is an orange line, olives are above. If the market is going to top like yesterday these will be your levels but that is my opinion. You’ll see …
Livestock Report
Live Cattle The August Live Cattle contract opened (113.85) at the 200 DMA (113.975) on Tuesday, July 11, 2017 and dipped down to the session low (113.40) before moving higher for the remainder of the day. The rally took price to 115.425, which is right at moving average resistance. The 8 DMA is at 115.35 and the 13 DMA is …