Grain Spreads: Wheat/Corn

Sean Lusk General Commentary Leave a Comment

Commentary Last week’s carryover estimates have the market’s attention potentially focusing the producer on the need for good wheat crops next year. Hence the increased talk in higher planted acreage for all wheat in the 21/22 crop year. Seven dollar prices for Kc and Chicago will do that in my view. The technical’ s show a potential double top on …

Grain Spreads: Balance Sheet Possibilities

Sean Lusk General Commentary Leave a Comment

Commentary Big report Friday as the USDA will incorporate planted and harvested acres along with supply and demand estimates. The big number for me overall is where they see carry-out or ending stocks. More times then not in the last 15 years, the USDA has increased yield in its September report. Per Reuters today, A huge downside surprise for U.S …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary October Lean Hogs broke down right from the open making the high of the day on the open at 89.975. The decline took price down to 88.00 and it settled nearby at 88.10 The breakdown took price below support at 88.325 putting support at 87.10 and the 86.05 consolidation low in traders crosshairs. A reversal …

Grain Spreads: Pressure

Sean Lusk General Commentary Leave a Comment

Commentary It was another ugly day for market bulls as December corn fell over 10 cents on what seemed to be a liquidation trade in my opinion. This come on top of corn tumbling over 5% last week. We missed the June lows by 3 cents today. Uncertainty over exports could still hang over the market for the near term …

Grain Spreads: Damages

Sean Lusk General Commentary Leave a Comment

Commentary   Front month grain contracts took the brunt of the selling today as terminal outages in Louisiana due to the Hurricane potentially gave thoughts to decreased near term demand. Power outages in the U.S.’s busiest AG port raised concerns  about supplies building with nowhere to go. Sep 21/Nov 21 beans which were trading at a 40 cent inverse just …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary October Lean Hogs continued its sideways trade on Wednesday, this time rallying to resistance after breaking down the past two sessions. Hogs have now established a new trading range with 91.425 as the high and 88.325 as the low. Wednesday’s rally took price past resistance at 90.40 to the high at 90.90. It pulled back …

Grain Spreads: Support Holds

Sean Lusk General Commentary Leave a Comment

Commentary The corn and bean markets tested key support levels at 12.85 and 5.30 respectively during Tuesdays session but short covering near the close was featured as support held. Today’s settlement put corn down 24 cents from the Sunday night open high while Nov 21 soybeans are sitting approximately 44 cents from the Sunday night open high. Crop conditions this …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary October Lean Hogs opened lower at the high of the day at 89.575. Hogs traded lower the rest of the session making the low at 88.375. The drop in Hogs took price down to the 88.325 support level and it settled above it at 88.80. A failure below 88.325 could see price test support at …

Livestock Report

Ben DiCostanzo General Commentary Leave a Comment

Walsh Trading Daily Insights Commentary October Lean Hogs gap opened higher at what turned out to be the high of the day at 91.425. The high was just a bit above the rising 200 DMA at 91.33 and this proved to be too much for the market to handle, as Hogs quickly fell apart and traded to the early session …