Please join me every Thursday at 3pm Central for a free grain webinar. We discuss supply, demand, weather, and the charts. Sign Up Now Commentary Although recent data suggests the fall surge in export demand peaked, usage for ethanol production remains robust. Conversely, with the corn harvest essentially complete, the market is feeling much less hedge pressure. That said the …
Oil Settles Around Short-Term Resistance, Spurred By Russian Missile Attack – WTI Crude Oil
The January WTI (CLF25) trading session settled at 70.10 (+1.35) [+1.96%], a high of 70.38, a low of 68.86. Cash price is at 68.74 (-0.70), while open interest for CLF25 is at 371,014. CLF25 settled above its 5 day (68.84), above its 20 day (69.20), above its 50 day (69.79), below its 100 day (71.50), below its 200 day (73.60) …
Chart of the Day – January Soybeans
The information and opinions expressed below are based on my analysis of price behavior and chart activity Thursday, November 21, 2024 January Soybeans When I wrote about Soybeans last week, I was still very much in the bullish camp. I don’t think I’m bullish anymore. Today’s close of 9.77 ¾ is the lowest close since August 16th. That day was …
Pure Hedge – Livestock and Grain
11/21/24 If you would like to receive more information on the commodity markets, please use the link to join our email list Sign Up Now . . 11/21/24 Trade Examples . THE TRADES LISTED BELOW ARE BASED ON MY MARKET OPINION ONLY, ARE SPECULATIVE TRADES AND REFLECT MY LONG-TERM MARKET OUTLOOK AND DOES NOT INCLUDE FEES AND COMMISSIONS. . These …
Grain Spreads: War Premium Wheat
Please join me for a free grain webinar every Thursday at 3pm Central. We discuss supply, demand, weather, and the charts. Sign Up Now Commentary All wheat classes extended their gains for a fourth consecutive session due to further geo-political risk premium being added in my opinion. Ukraine fired missiles into Russia for a second straight day today. This time …
Chart of the Day – February Gold
The information and opinions expressed below are based on my analysis of price behavior and chart activity Wednesday, November 20, 2024 February Gold The December contract is still the “front month” for another 10 days, but the Open Interest has shifted to the February contract now and the trading volume will show up in this contract over the next few …
Inventory Builds Sends Crude Prices Lower – WTI Crude Oil
The January WTI (CLF25) trading session settled at 68.75 (-0.49) [-0.71%], had a high of 69.96, a low of 68.64. Cash price is at 69.44 (+0.28), while open interest for CLF25 is at 366,848. CLF25 settled above its 5 day (68.59), below its 20 day (69.20), below its 50 day (69.74), below its 100 day (71.59), below its 200 day …
Chart of the Day – February Live Cattle
The information and opinions expressed below are based on my analysis of price behavior and chart activity Tuesday, November 19, 2024 February Live Cattle Today the February Live Cattle contract closed up 2.025 at 188.000. That’s the highest close since October 30th and that takes out the last two weeks of highs. There is a Cattle on Feed report due …
Chart of the Day – January Feeder Cattle
The information and opinions expressed below are based on my analysis of price behavior and chart activity Monday, November 18, 2024 January Feeder Cattle Following Friday’s very strong jump higher and breakout close, Feeders continued to show more strength on Monday. Last week’s close put the Jan contract up 5.80 for the week, with 4.02 of that gain coming on …
Pure Hedge – Livestock and Grain
11/18/24 If you would like to receive more information on the commodity markets, please use the link to join our email list Sign Up Now . The Livestock Markets were all higher again today. February’25 Live Cattle were 72 ½ cents higher today and settled at 185.97 ½. Today’s high was 186.32 ½ and the 1-month high is 190.32 ½. …