The best thing we can say about today is that its Friday and ends a forgettable week for many commodity bulls. The icing on the cake for bearish commodity news was highlighted by the FOMC yesterday as they are staying the course for now with planned rate hikes well into 2019. Of course news and events can enter into the …
In the micro-economic world domestic corn and wheat stocks are tight while bean stocks are plentiful. In the macroeconomic world as money supply tightens there’s less urgency to chase any rally in anything as it appears that we are still deflating from the easy money years of 2008 to 2016 when every trader bought dips and made money in everything …
The USDA report is in the books. There really were not any surprises from my thought regarding the markets. To recap. The US carry is growing. The USDA only reduced Chinese imports 4 mmt. The 18/19 marketing year the carry is projected to swell to 955 million bushels. This is off the charts. 500-600 is off the charts. At this …
New Census Chinese census figures jostled the world supply/demand figures……………live and learn! Our next USDA report is on December 11 but, it is only Supply/Demand and some traders consider the December report to be the least important number of the year……………..The big one will be in January when the USDA throws the kitchen sink at us …
Good Thursday Traders, All opinions news and fake, trading ideas and chart-lines that HOLD OR FOLD My product is putting specific levels where you can buy 100 with a .22c stop like yesterday in hogs 54.05. This blue hashed line was only 2ticks under Tuesday limit down on huge volume @54.10. I put it out there early for those …
January Feeder cattle continued its break down after yesterday’s pause, trading to a new low at 145.45. The low is just above support at 145.05 and continued weakness could see price test the 144.20 and then 143.50 support levels. Resistance is at 146.20 and then 147.30. December Live Cattle continued to trade within the Monday range as it tested support …
Pre-report estimates and average trade guesses ahead of tomorrow’s 11 am central time WASDE report come in as follows. The average US November corn yield estimate is 180.0 BPA with the soybean yield at 52.8 BPA. This would be down .7 BPA from October on corn and down just .1 BPA in soybeans. There is noise in the market that record …
The USDA will release the November report tomorrow. There are many expecting a reduction in bean yield. I am not so sure about that. The main reason, the conditions remained high towards the tail end of production. There seems to be areas that improved late. Again, I say I’m not so sure. The bean market could use some positive news. …
No one knows what the USDA will present to us at 11:00 tomorrow…………………………………………We’ve been surprised with the last two reports and it is always good to approach these numbers with caution……………………………………………………………………… World wheat stocks and feed grain stocks have been interpreted as potentially bullish in the last few reports yet, we haven’t rallied given …
MACRO BACKDROP: Welcome back readers. Today is the first day following the results of yesterday’s midterm elections. Democratic majority control has returned to the House of Representatives. Republicans have retained the Senate. Okay, now that’s out of the way. Many analysts had called for this outcome. As of just shy of 8am CST on 11/7, the equities futures markets seem …