In a quiet trading session April Live Cattle consolidated between resistance at 126.625 and support at 125.80. A break out above resistance could lead to a test of the January 16th high at 127.80. A failure from the low could see price test support at 124.30. Cash trade remains quiet as packers seem content to wait until late Friday to …

Today there may be some changes to consider. Perhaps they are slow to come, or perhaps they happen quickly. There is a slowdown of Chinese bean imports. The USDA may need to adjust the balance sheet. This would add to the carry over. The Chinese issue with African swine fever continues to spread quietly without much coverage here. I don’t …

We are going to keep this short and to the point today. July meal: Buy the 350 call and sell the 4.00 call. Cost $350-380 per spread, max profit is 5K minus commissions and fees if futures settle above 4.00. Trend line designated by blue arrow has held for weeks, yet meal hasn’t gone anywhere. A wedge has formed here …

                                                It’s the time of the season when traders talk about winter kill in wheat but, unless it’s frigid cold for a week and no snow cover and very dry it is very difficult to zap the growth nodule to death…..Wheat is a surprising plant as the crusty  old timers refer to it as the Lazarus crop as it looks …

The soy remains supported. There may be some changes. The bean oil has exhibited some strength of late. The palm oil market has rallied as well. The demand for veg oils is on the rise. This trend will continue. There at present is ample supply. However, prices may rise further. The meal in my opinion has some things to contend …

                                                John Wooden opined that the gifts of hard work, dedication and discipline are patience and faith and that is just what wheat traders might need right now as all the stars are lining up for a rally but there’s no need to rush it! Typically, we need to feed a bull everyday but this wheat rally feels hesitant as …

Cash sales disappointed last week, with cattle trading steady at 124.00 on a live basis and dressed at 197.00. It led to a breakdown in futures with the April Live Cattle trading down to support at 125.80, making the low at 125.65. It settled above support at 126.075. A break down below the low could lead to a test of …

It looks to me as if KC wheat can continue to strengthen over corn in the near term. Corn has a long term bullish story and I see old crop corn contracts gaining vs new crop in the next few months. However, wheat either KC or Chicago contracts can gain against corn and may have a more dire demand story …

Hard Red Wheat can potentially strengthen further in my opinion,  last as of this writing 507. News of positive trade talks with China helps but Wheat overall, separately from China news, can rally with  demand from traditional wheat importers out of North Africa and the Middle East.  Argentina has issues as well with their Wheat quality helping the bid. Buying …

                                                The window of opportunity for wheat business is open as the USA might be the most reliable supplier of decent quality until new crop in last half May and June.         Make hay while the sun shines!        Egypt, Bangladesh and others might be forced to look to the US Gulf for quality hard red wheat       But, as corn/wheat approaches $1.50, …