Walsh Trading Daily Insights Commentary October Lean Hogs consolidated once again. It traded within Friday’s range forming an inside candlestick. (Friday also formed an inside candlestick – trading within Thursday’s range.) So… Thursday’s breakout move has failed to generate any excitement in the Hog market we are trading within resistance at 56.10 and support at 53.825. It settled for …
Soy and Corn Market Commentary
Commentary: SOY: The soy was quiet overall, the meal was weaker. The market is watching the weather this weekend. The Pro Farmer tour released their estimates and estimate the US soy yield 8/10ths lower than the last USDA number. This is not overly significant in my opinion. However, if the weather remains dry the last week of the month, and …
Grain Spreads: Three Stories
Commentary-Rising domestic prices for new crop corn in Ukraine this week reflect concern about the possible negative impact of dry and hot weather on yields and overall output. Despite anticipation for a strong harvest, it is presumed that producers will hold onto their crop as basis levels rise there. The worry is producers will do the same thing they did …
Soy and Corn Market Commentary
Commentary: SOY: The soy was under pressure. There are some considerations here. The weather is important this month especially for beans. There has been some dryness, however the bean yields are currently not reflecting this. The Pro Farmer tour is indicating very positive results thus far. It is possible to continue to add to the carry if the weather finishes …
Grain Spreads
Commentary– The recent rally in grains is still intact despite todays small pullback in beans and corn. Last week’s Derecho event resulted in over 150 counties in Iowa being declared a disaster area. Crop losses along with storage and facility damage are still being debated as far as the monetary costs and loss of production. This event to me is …
Soy and Corn Market Commentary
Commentary: SOY: The soy was quiet today. The bulls have been in control for the past week based on some weather concerns. The Pro Farmer crop tour is running now. The current schedule in Indiana and parts of Nebraska have shown above average yield potential. This has the market stalled for a minute. There are areas coming up that may …
Livestock Report
Commentary October Lean Hogs was able to hold above Tuesday’s low bouncing back to retest the declining 100 DMA (52.77) making the high at 52.825. It settled nearby at 52.55. It formed an inside candlestick. Thursday morning brings the export sales report and I think this will key trade on Thursday. A strong showing in the report could see …
Livestock Report
Walsh Trading Daily Insights Commentary October Lean Hogs opened above the 100 DMA (52.88) but couldn’t generate any enthusiasm to trade higher. It couldn’t take out yesterday’s high and fell apart. It traded past support at 51.80 to the low at 51.275 and settled nearby at 51.425. This puts support at 50 .475 in play if bears can …
Soy and Corn Market Commentary
Commentary: SOY: The beans rallied again today. The weather apparently has some concerned that the crop size could decline. The ratings did decline today by 2 points. The Pro Farmer crop tour will begin to release estimates tonight apparently. This could be important as an indication of actually how large the crops are this year. Their doing actual field surveys …
Livestock Report
Walsh Trading Daily Insights Commentary October Lean Hogs rallied past resistance at the declining 100 DMA (53.05) to the session high at 53.90. This just above resistance at 53.825 but below the recent high made at 54.15. It settled just under resistance at 53.525. Hogs are trying to get better footing and need to stay above the 100 …