Live Cattle The October Live Cattle contract tried to rally on Wednesday, August 16, 2017, trading up to 109.70 mid-morning before breaking down to the session lows at 108.075. This is just below the 108.675 support level and a small bounce had the October contract end the day at 108.525. A rally above 108.675 could lead to a test of …
Ag Commentary
weather weather weather. The market was quiet today after the recent weakness. The forecast has turned a bit drier for the 6 day. The crops have had ample moisture in most areas. The conditions are doing fine. given the recent usda estimates the market will head lower baring any unforeseen issues. A couple things to watch. Oilshare is hovering in the …
Mid-Week Cattle Round Up: August Live Cattle
August Live Cattle The cattle market chopped around in lower to sideways action in today’s session. I believe a lot will revealed in tomorrows trading. If this is a (iv) wave corrective rebound unfolding it should not rise above 112 which is currently major cross zone resistance. If prices move sideways to slightly higher and then falter the …
Diverging: Focus September Soybeans
September Soybeans The bean market violated recent extreme of 920.2 in early trading to post a low of 917.2 before recovering to settle at 923. There is multiple time frame divergence in the price charts which could be signaling a rebound in prices. Confirmation is needed and this will be achieved if the market can press above 926 …
Tuesday Mid Morning US Grain Weather Update
TUESDAY AM RADAR — FAST EAST LOADING RADAR Rain over central ND with 60% coverage and over western SD and eastern SD, 40% coverage… storms over western IA and heavy storms over northern third of ARK and moderate storms / rain over far sw OK into southern TX Panhandle into central TX. RAINFALL LAST 24 HRS ending 0700 cdt …
Daily Gold Report
Gold and silver prices retreated for the second consecutive session as last week’s fears over a nuclear conflict with North Korea have abated and as of today the third or fourth story in the news cycle. Also weighing on gold prices was the prospect of another increase in U.S. interest rates, with an influential Federal Reserve official saying on Monday he …
Rebound: August Live Cattle
August Live Cattle The cattle market made an early low at 107.925 and snapped back in impressive fashion to post high of 110.325 before settling just off upper extreme at 110.050. I’d be expecting further modest upside action from here. Any choppy advance should find resistance around 111 to 111.500. If it play out like this I’d would …
Slippy? Focus September Soybeans
September Soybeans Beans can’t get anything going on the upside as they fail to climb above the 935 level spoke of in yesterday’s posting. Contract steadily slides lower throughout session to targeted first tier support target at +/- 920 as they hold up just above at 920.2 to settle at 921.6. Hard to make a case for this …
livestock Report
Live Cattle The October Live Cattle contract tested the 106.00 support level on Tuesday, August 15, 2017, trading down to a new low for the move at 105.75. Support held and Live Cattle rallied from the low. The market closed above resistance (108.675). A rally above the session high (109.575) could lead to a test of resistance at 110.80. A …
Wheat-Recognition NOVNOV followup!
Wheat- lesson. Here in recap up at the top of this chart is two olive lines. The degree of extreme is a good way to define. Trader methodology. Play these levels and do not look at the winners. Here if you needed to sell wheat you would have heard me say for the past year that some day we would …