A very quiet Tuesday as the dollar and foreign currencies closed with minor changes on very light trading volume. U.S. stock incises, after early weakness, closed marginally higher; bonds closed slightly lower. With no interesting fundamental news, investors remained focused on the infighting in Washington. The Congress is wrestling over the question of the new Supreme Court nominee. We are told the decision …
Walsh Asset Management – Weekly Snapshot (3/31/2017)
Below is a snapshot of open trade positions in the Absolute Momentum Strategy investment. The total open trade equity in the portfolio inclusive of fees and commissions as of the close of trading on Friday, March 31st, 2017 = $2,487.85 LAST WEEK IN TRADING Long Term Commodity Trader click to enlarge Long June Australian Dollar was entered at 0.7725 on 3/20/17. …
US Grain Weather Update
For the latest US Grain Weather Update from WxRisk.com, CLICK HERE. For those interested, Sean Lusk, Director of Walsh Commercial Hedging Services, hosted a 2017 Spring Grains Outlook Webinar on Thursday, March 30th at 3:30PM CST. This webinar covered: Technical levels in beans, corn, and wheat Planting/growing season weather outlook Supply/demand fundamental analysis Strategies for a bullish/bearish outlook Is you missed …
Ag Commentary
Soy Complex The soy complex exhibited further weakness today. The market continues to digest the USDA numbers which were decidedly bearish. Not only the potential planted acreage was larger than anticipated, but also the stock number was larger as well. This indicates a larger crop than last year. The trend continues of higher yields due to genetics. This trend remains …
Currency comment 4/3
We saw a quiet trading session in currencies on Monday. Dollar up slightly, foreign currencies slightly lower. U.S. stock indices moderately lower; bonds higher. Most eyes are on Washington this week as the main story is over the battle between Democrats and Republicans on the question of the next Supreme Court member. Democrats say they will filibuster the nomination of Neil …
Ag Commentary
The USDA released stocks today and acreage today. The report has potential long term ramifications. The acreage is 6 million acreas higher than a year ago and 1 million more than anticipated. This is a very large number and if realized will increase the carryover to 550-600 million bushels. This with the already burdensome global availability can spell lower prices …
Livestock Report
Live Cattle June Live cattle made an attempt to rally on Wednesday, March 29, 2017 trading past the previous two days highs and then reversing course and closing near the day’s low, making a doji candle. Thursday’s trade saw the June contract breakdown from the low of the doji, right from the open. It also took out the low of …
Equities bounce back
The stock market moved higher along with the US Dollar , as Treasuries moved lower on Thursday. Dow futures were up 69 points, and the S&P 500 futures closed up 8.25 , able to move out of the horizontal trading we saw on Wednesday. Dow futures narrowly missed touching 20,700 again putting in a high at 20,694. The index came …
Currency comment 3/30
The dollar continued to rally Thursday. This was the third day of rally in the dollar after the heavy selling seen on Monday. The Euro currency was down heavily. The British pound was up moderately as traders reacted bullishly to the filing of Article 50 by PM May on Wednesday. U.S. equity indices were higher; bonds were lower. Investors are cautiously bullish …
Ag commentary
The Soy Complex continues to erode based on the long term fundamental outlook. The question remains regarding acreage. The south American crop continues to expand pushing exportable supplies into the supply chain. If the usda shows the estimated acreage increases the domestic supply and the global supply will be at or very near record. This will leave the price of …