Commentary Last week’s bullish versus expectations planted acreage report apparently has been forgotten. The reason is weather in my opinion. European model forecasts are calling for 3 to 5 inches for most of Iowa, South Dakota, Southern Minnesota and extending east through Illinois into Indiana and Ohio the next ten days through July15th. The forecasts need to verify obviously, but …
Soy & Corn Market Commentary
COMMENTARY: SOY: The soy was fairly quiet before the long fourth of July weekend. There is little room for error with production given the lack of acreage growth. The weather will be watched ever so closely. The current stocks remain tight. This will not change for the better domestically for a bit. The larger global numbers and the tight domestic …
Soy Market Commentary
COMMENTARY: The soy has rebounded here again led by the bean oil. As I have mentioned, the global vegoil market, while not on fire, is supported. Especially after the recent pull backs. There is little to say today except that the USDA will release the acreage estimates tomorrow. The acreage will allow us to attempt to draw conclusions regarding the …
Grain Spreads: Big Acres or Hot Air?
Commentary The grain market gets its first look at the much anticipated 11 am planting intentions report and on farm stocks. The USDA in its last quarterly planting intentions report threw the trade a major screwball with the planted acreage number for corn and beans. It was one reason why new crop corn and beans traded significantly higher all of …
Livestock Report
Walsh Trading Daily Insights Commentary August Lean Hogs gap opened higher, traded to the session high at 104.175 and then broke down closing the gap and making the session low at 102.55. It was able to bounce back off the low and settled at 103.626. The high was just below resistance at 104.30 and the low was above support at …
Soy Market Commentary
COMMENTARY: The soy had a large bounce back today. The USDA will release acreage this week. This, in my opinion, will be an important report for the market. The bounce today was related to the weather in general. Also, I think the recent break had some short, and the market was evening up. There are concerns over weather reports for …
Grain Spreads: Meal Problems
Commentary There is some noise in the market regarding soy meal potential longer term in Argentina. In my opinion there is some chatter in the trade forecasting a bullish story regarding the country’s soy meal supplies, observing that if prices continue to correct, farmer selling of the oil seed may potentially drop to nearly nothing. Considering the risk of peso …
Livestock Report
Perspective Commodity Snapshot Template Walsh Trading Daily Insights Commentary August Lean Hogs opened surged on Monday, trading and settling up limit for the session. Settlement was at 102.775 which is above resistance at 101.975 but below the 100 DMA, which is at 103.09. If price fails from settlement, a re-test of support at 101.975 is possible. Support then comes in …
Soy Market Commentary
COMMENTARY: The market had a correction Friday. The beans and oil lost while meal gained. There was an unwinding of the spreads as the supreme court sided with small refiners regarding blending. This, while noteworthy, has little impact today on blending rates. It seems little will change in the near term. What does that mean if true? At present the …
Livestock Report
Perspective Commodity Snapshot Template Walsh Trading Daily Insights Commentary August Lean Hogs opened unchanged, made the session low just above support (98.475) at 98.50 and then rallied to the session high at 101.80, stalling just below resistance at 101.975. It pulled back and settled at 99.775. Settlement was below the key level at 100.075, keeping the pressure on price. If …