The soy complex is awaiting next Tuesdays numbers. The job of making predictions is mute till we see the numbers. Some thoughts. The Brazilian crop will go up as more acres will be planted. The Argentinian may favor feedgrains. The USDA has no reason to alter the projections month to month. No guarantees in life however. The issue going forward for …
Livestock Report
Live Cattle The October Live Cattle contract rallied from the open on Thursday, September 7, 2017. It pushed past resistance at the short-term moving averages (the 8 DMA (105.85), 13 DMA (106.15) and the 21 DMA (106.575)) and rallied to trendline resistance at 107.45 reaching a high of 107.675. It failed from the trendline and fell back below the 21 …
Daily Gold Report
The price of gold rose to a one-year high on Thursday after the dollar tumbled on the back of weak U.S. jobs data and an unchanged growth and inflation outlook from the European Central Bank. The number of Americans filing for unemployment benefits jumped to its highest level in more than two years last week amid a surge in applications …
Ag Commentary
The soycomplex today was mostly quiet. There are many currents running here. The central belt remains a bit dry. The Delta is potentially going to be struck with the hurricane effects. This story however may be in the final stages. The reality of the market is that the conditions have held up just fine. It is my contention that the …
Livestock Report
Live Cattle The October Live Cattle contract consolidated within Tuesday’s trading range on Wednesday, September 6, 2017. Bears couldn’t take price down below the Thursday low (104.20), but bulls couldn’t sustain rallies as each attempt was sold. Resistance is at the declining short-term moving averages (the 8 DMA (105.90), 13 DMA (106.10) and the 21 DMA (106.75)). The session high …
Cowpoked: October Live Cattle
October Live Cattle Another uninspiring session unfolds in the October live cattle contract as the market once again closes below the 106 level at 104.700. I am still proposing that the market get nudged lower here and am not looking for anything dramatic based on the divergence of momentum and the underneath channel line support. A …
Daily Gold Report
After reaching new yearly highs yesterday off of fears of nuclear proliferation with North Korea, longs in gold booked profits today as headlines in Washington D.C. took top step for investors.The gold market saw selling pressure right after midday news reports that President Trump said he will support a three-month extension to the U.S. debt limit. That would keep the …
Livestock Report
Live Cattle The October Live Cattle contract traded in a choppy volatile range on Tuesday, September 5, 2017. It broke down to the early session low (104.35) before surging to the high (106.45) by mid-morning. The October contract then spent the rest of the day grinding lower, and it made a new low (104.30) for the day at the end …
Vulnerable: October Live Cattle
October Live Cattle With another close below the 106 speed-line support the market has left door open for a breakdown, however, I’m not looking for anything sever. Channel line/pitchfork support convergence zone comes in at 102.500-101.500. Daily momentum indicators should display convergence at this level and any hard low might snap back. Also, the December contract remains more …
Ag Commentary
The Soy complex started the shortened week on a higher note. This strength was led by the meal market today as oilshare gave back approx. 1%. The market advanced today on ideas of dryness to end the growing season. Also, potential rain may hit the delta right before harvest due to the hurricane making landfall this Wednesday. This rally may …