BE WELL, COMMENTARY: The markets had a very nice rebound. This was led by beans and oil share. I mentioned yesterday that the oil component may be beaten enough for the time being. There is so much to consider and think through this weekend. Happy Fathers day BTW for all of you out there. I would like to think about …
Livestock Report
Walsh Trading Daily Insights Commentary July Lean Hogs continued its descent, trading down to 108.50 for the session low and settling just above it at 108.675. The low is just above support at 107.925, which is also the May 17th low. The high was at 112.225. A breakdown below 107.925 could see support tested at 106.85 and then 104.35. a …
Grain Spreads: Dec 21 Corn Examined
Commentary New Crop corn dove 40 cents to the key 5.32 support level on a limit down close yesterday. We briefly dipped to 5.30 last night, but with everything else today, rallied back briefly above weekly trend line resistance at 5.70 this week, to close the day and week out at 566.2. Dec 21 corn lost 40 cents on the …
Soy Market Commentary
BE WELL, COMMENTARY: The markets are under heavy liquidation. Was today enough. Remains to be seen. The risk is so high at present. This is important to keep in mind when looking at strategies. There are many reasons at play today. The weather has changed, and moderated. It appears more showers will be received in the next week or two. …
Soy Market Commentary
COMMENTARY: Meal gained as unwinding long bean oil short meal is in force. The oil share has broken approx 4% in the last week. The weather has moderated. The exports have slowed. The crush pace may very well be over stated. The market will eye the acreage at month end for help with the direction. As mentioned yesterday, the weather …
Grain Spreads: Soy Correction
Commentary The soybean complex has been routed the last six sessions as funds have hit the sell button en masse following last week’s WASDE report in my opinion. After making a pre report high at 16.23, July beans have fallen approximately $1.80 to today’s low at 14.42, then firmed slightly to close at 14.48. That is over a 10 percent …
Livestock Report
Walsh Trading Daily Insights Commentary July Lean Hogs gap opened lower at 117.10, which is just below support levels 117.29 (21 DMA) and 117.20. This proved to be too big a hurdle to overcome as it turned out to be the low of the day. Price grinded higher the rest of the session, making the high at the end of …
Soy Market Commentary
COMMENTARY: The soy complex in general has exhibited weakness. The USDA report took the edge off the market with the slight uptick in the carry over. In addition, the weather has moderated in some of the belt. The market seems to also be taking the posture that the critical period for beans is July August. This is true. It is …
Grain Spreads: Northwest Ratings
Commentary Updated forecasts with better rain chances and cooler temps had grain markets reeling on last nights open through today in my view. Crop conditions were just released after the bell. Corn’s good to excellent rating dropped 4 points to 68 percent from 72 percent last week. Number one producer Iowa fell 14 points to 63 percent. Minnesota dropped 11 …
Market Commentary
AG SOY The USDA report today was mostly as expected . The 20/21 carry 135 million bu. The 21/22 carry a bit larger than anticipated at 155 million bu . The reality is both are still tight ending stocks. There exists no global tightness. However, due to the extreme situation in the US, this years bean crop is very important …