I am doing a webinar today so please feel free to look for it if your interested in trading, speculating, pricing your meats or grains as all markets in the news will be covered. Raining on LaSalle street in Chicago and beans should be down heavy with the bear traders. What’s up? If you need to buy thousands of 5,000 …
Wednesday AM US Grain Weather
WEDNESDAY AM RADAR – CLICK HERE TO SEE FAST LOADING RADAR The morning radar shows numerous showers and thunderstorms across a significant portion of the WCB. The coverage is about 60 to 70% over central and eastern Iowa and about 60% across all of Minnesota and far southwest Wisconsin. Storms are easily moved into far northwest Illinois. Additional light to …
Weather Insiders Report
For the latest Weather Insiders Report from Wix.com, CLICK HERE. This report contains excellent weather data for the July/August timeframe. TODAY, June 28th at 3PM CST, Alan R. Palmer, Strategist – Technical Analyst, will host a special FREE Guest Series – Second Quarter Review and Third Quarter Macro Commodity Outlook. He will take a look back at the second quarter while also looking …
Dec Cattle- Olive cha-cha
Reminder- Signup here free Webinar Wed.s and let’s talk macro pattern extremes and how they add value. https://t.co/VMNZeukwUt (I do not know if anyone likes the charts so speak up if you do). arp@walshtrading.com 312.957.8248 Major Turns after 10% falling knife price action into qtr.3 17′. Dec cattle- This is what I call the olive cha-cha which happens in stocks, …
Soybean Complex: Wave Structure Analysis 6/27
July Soybeans Shaven bottom daily candle ( opening sets the low) develops in today’s action. Prices rise thru inner channel line and press higher to 918 before retreating to finish at 911.2 forming what appears to an a-b-c non-impulsive pattern. If today’s high marks the end of a wave then the commencing pullback would need to …
Live Cattle: More Cow Bell
August Live Cattle A robust move in early weeks price action. Employing Elliot Wave Theory I have currently labeled the low at roughly 113.300 as a iv wave extreme of a v wave advance which commenced in October of last year. Mid-level overhead resistance comes in at +/- 121-121.500. A close above targets recent highs which if count …
Soybean Complex: Early Week Action
July Soybeans Another tight range develops in today’s action. Contract holds 903.6 and presses up thru inner 60 minute channel line at 910.0 mentioned in Fridays post (downward sloping). Market can’t hold above and retreats to finish at 906.6. Difficult to really make anything out of this action. Was today’s high a subset iv wave extreme now set …
Weekly Gold Report
A Thursday/Friday rally in both gold and silver halted a two and a half week slide as the 1240 level and 16.30 level were rejected in both August gold futures and July silver futures. The reluctance of selling at those levels could be telling, particularly for gold. August gold futures held trend line support and finished the week back above …
Soybean Complex: End of Week Wrapup
July Soybeans End of week action saw a tight range as prices dipped to test 900.0 level and posted a slight rebound to settle at 904.4. Yesterday I suggested support would come in around the lower 890’s at the sloping channel target. Currently in place appears what to be a five wave structural decline from the iv wave …
Ag commentary
The markets settled unchanged after a two sided trade. The weather going forward is key. I am a bit surprised that most commentaries want to buy the market. Or at least not be short. The world is awash with record surplus. record surplus. And growing. The demand has been very excellent. But we continue to grow supply. The next story …