US 30 Year Bond Futures The bond market spurted up in today’s activity finishing just off the highs at 142.16 after turning moderately lower in overnight action. It appears to me that the futures established a subset 5th wave low marking an intermediate wave 3 extreme. In my opinion we are now in a minor corrective pattern of …
AG TIME
There is not much to comment on with respect to today’s activity. The feature remains meal strength relative to the complex. I would venture to say that without meal strength beans would be under pressure. The funds remain very long. The concerns over the rosario port will be yet another reason to push meal higher. The weather in the Delta …
Cocoa, LC FC, can’t put em away.
Good Morning Last week while putting ear to the rail I conveyed option trader buzz about VIX up 2% in that blip in Dow to about steady on the year. Is this what mkt prelude meant? Last time KC under $5..00? Maybe. Buy any break against support levels if not on board in my opinion, all opinions in here. …
Livestock Report
Live Cattle On Wednesday April 25, 2018, the June Live Cattle contract tested support at the 104.85 level, making the low at 104.625. It grinded higher from the low, trading up to 105.80 and then tested support again, trading down to 104.825 before trading back to the high at the end of the session. It settled at 105.575 and ended …
Corn Maze: July Corn Futures
July Corn Futures Corn mazes have become popular tourist attractions in North America however the structural maze of the corn market is more like a trader’s trap. Since the termination of the rather robust move to 402.6 (front month continuation) in mid March it has been trading in a series of what appear to be non-impulsive moves …
AG TIME – Time for long term thinking
The beans and meal rallied early. There were a number of reasons abound. There was a accident at the rosario port that could limit meal exports. The EU and CHINA are on holiday Friday through Monday so there was a need for coverage today. There are more but those two will suffice. The beans were clearly the follower on the …
Buckingham Global Advisors posts 0.96% gain for March 2018
After suffering their third down month since its inception in 2015 Buckingham’s WEP program posted a positive return. Out of thirty-seven months, they have posted profits in thirty-three. Buckingham recorded a rare loss for February. Where some premium sellers got crushed, Buckingham’s risk measures limited the loss to 4.75%. Their three drawdowns have been of 6.09, 6.28 and 4.75 respectively. …
Livestock Review
Live Cattle On Tuesday April 24, 2018, the June Live Cattle contract gap opened (105.50) higher from the Monday high (105.475) closed the gap and traded up to the high of the day at 106.675. This is above the April 17th high (106.175) and is a new high for the up-move. It couldn’t hold onto the gain however and broke …
AG TIME
A two sided trade today in the AG. The beans responded slightly to turn around Tuesday. The general thought is that there will be an increase of bean acres this year. The question will be how many. It appears there is a shift in the Delta at present. The weather through the rest of the month will dictate other areas. …