February Live Cattle reversed course yet again, trading up from yesterday’s lows and moving higher all session long. It inched out a new high at 121.75, trading above the November 30 high of 121.625. It ended the session near the high and sets up a possible break out scenario for Wednesday. If Cattle opens higher on strong volume look to …
FEBRUARY SOYBEAN OPTION STRATEGY
March Soybeans appear to be a buy as tariffs seem to be getting lowered by the Chinese after Trump and Xi had their meeting Saturday as both agree lower their tariffs and to trade on a more equal footing, in my opinion. March Soybeans last as of this writing 923-6. Chinese demand for Soybeans as well as Asian area countries …
Livestock Report
February Live Cattle remains in its trading range as a stronger cash market once again fails to lead futures higher. Cash cattle traded as high as 118.50 on a live basis on Friday, with dressed cattle at 185.00. Futures opened near the session high and traded lower towards support at 119.15. The range was 121.425 – 119.825. The market continues …
Trading the Beginning of the End…
MACRO BACKDROP: Welcome back, market readers. A bittersweet start to December, I think. Bitter, for lack of a better term, was the passing of the late George H. W. Bush on Friday Nov. 30th; yet, sweet was when we consider events from the weekend. Over the weekend, it appears that some headway was made in the G-20 meetings, according to …
Alchemy
We’re there or almost there with stopping Kansas City futures, taking the bushels and loading them on rail cars and shipping them up to deliverable Chicago elevators…….Is there enough time and are there entities out there capable and willing to use their facilities? Speculators might theorize and contemplate being long KC and short Chicago yet, it takes actual cash traders …
Livestock Report – Lean Hogs
February Lean Hogs pulled back towards support at 63.325 early in the week as Chinese jawboning about nothing to see here caused traders to lighten long positions. Traders hadn’t seen the Chinese increasing imports and were worried that maybe they did have control over the African swine fever as they claimed. Show me the imports! Well guess what …. Thursday’s …
MARCH US 10y note Option Strategy
The MARCH US 10y note in my opinion and based on what the Fed has said, has the potential to rally further because of lack of inflation while wages have risen, also weakening housing and autos. The potential for the Fed to not raise rates further after the December 18/19 meeting and indicate 2 instead of 3 rate hikes for …
AG TIME – G Meeting
This weekend should be market moving one way or the other. Sunday evening could be interesting. President Trump will be meeting with President Xi. It is my thought that a window of opportunity will present itself. Trump, I believe, wants a deal. Xi I believe needs a deal but doesn’t want to look like he needs one. If a verbal …
New Beginning Next Month?
One month left in the calendar trading year and we’re still near levels which may be viewed as too cheap to sell yet there’s no urgency to buy………………………..Spreads are wide enough to reflect the comfortable situation the world is in for soy products and feed grains yet, wheat spreads may have some play in the inter and intra markets as …
AG TIME
Overall a quiet day. anticipation regarding the meeting this weekend between Trump and Xi. My belief is that they will agree in general on some changes. the implementation will take some time. This will open the door for the Chinese to buy US products again. this could offer a rally. If so the 2019 needs to be sold at higher …