Recent talks of tariffs and trade wars have the relationships with the US Dollar moving around again. Canada is one of the United States biggest trading partners, and the number one spot for U.S. agricultural exports. Anytime we have seen a hint of that relationship interrupted, the Canadian Dollar tends to weaken against the U.S. Dollar. On top of the …
Bang For Your Buck: US Dollar Index
US Dollar Index It appears to me that the US Dollar has not only reached solid technical support but has established a sub-set 5 wave rally off the recent extreme. It must be stated that the decline stemming from the highs seen at roughly 103.70 also shows signs of impulsiveness making me believe any rebound will ultimately be confronted …
Livestock Report
Live Cattle The April Live Cattle contract gap opened (123.00) higher on Wednesday, March 14, 2018. It blew past resistance at 123.125 and rallied to the high of the day at 124.30, just below resistance at 124.70. The high is right at the declining 21 DMA (124.20) and this level prevented price from moving closer to the higher level of …
Grain Spreads
Soy Complex Weather and its future impact on yields along with bearish planting forecasts potentially signalling higher US planting for beans this crop year sent beans and meal significantly lower today. Call it a head fake or reversal, but after moving 6 cents higher in soybeans in early morning trading and five handles higher in meal, beans broke over 20 …
Gold Mine : Gold Futures
Gold Futures Don’t be fooled by the title of this article. When I say mine I speak of land mine. I spent some considerable time trying to make sense of the structural makeup of the gold market this afternoon. What struck me most of all was the sequence of non-impulsive moves both rising and advancing from …
Livestock Report
Live Cattle The April Live Cattle contract made a new low for the down move on Tuesday, March 13, 2018. It traded past the March 8th low (120.90) to 120.75, which is just above the 120.50 support level. It rallied from here, trading up to the session high (122.575) at the end of the day. It dipped lower and ended …
Grain Spreads
Wheat/Corn Corn continues to gain on wheat as wheat’s short-lived gains this week were eroded throughout Tuesday’s session. All wheat classes have not seen any follow through buying from the early March rally as profit taking has ensued as corn has held steady. State by state crop ratings that continue to disappoint. The outlook comes as winter wheat crops are emerging …
Livestock Report
Live Cattle The April Live Cattle contract opened at 123.30 on Monday, March 12, 2018, made the session high at 123.475 then broke down and traded to the low of the day at 121.275. This is right near support at 121.325 and Friday’s low (121.125). It ended the day at 121.65. Live Cattle has been in a trading range for …
Four Bean Salad: May Soybean Futures
May Soybeans Earlier this year I posted bullish reports on the bean market. my first upside came in at +/-1070. The front month contract topped out last week at 1071 while the May peaked at 1082.4. Both contracts hit sloping channel projections and reached slightly above the pitchfork line. These convergence zones are the levels that I look …
Livestock Report
Live Cattle The April Live Cattle contract opened at 122.125 on Friday, March 9, 2018, then broke down and traded to the low of the day at 121.125. This is right near support at 121.325 and Thursday’s low (120.90). It rallied from here and traded past the Thursday high (123.30), reaching 123.525 and ended the day at 123.25. It is …