Walsh Trading Daily Insights Commentary August Lean Hogs is now the lead contract as its volume has surpassed the volume of the July contract. August Hogs gap opened higher and rallied to an early high, then reversing course, closing the gap and trading to the session low at 91.05. Price turned higher and rallied the rest of the session to …

Commentary Beans and corn futures for new crop delivery traded sideways today. The overnight rally faded by this AM which was then followed by a double-digit dip in price. However, weather forecasts that are contradicting each other that bring much needed rains in and out of the grain belt haven’t verified yet. Just too many unanswered questions right now for …

Commentary Global wheat prices continue to slip lower with rallies being sold into yet again. Wheat struggles to follow corn in its recent push higher. Corn may have production issues as good to excellent conditions deteriorate but US wheat has demand issues greater than its own production problems in my opinion. US wheat values remain above Russia and garners little …

Walsh Trading Daily Insights Commentary July Lean Hogs consolidated in the lower end of Monday’s range, making the high at 91.80 and the low at 90.00. Settlement was at 90.60. The price action took price below support at 90.40 with settlement above it. Monday’s rally saw futures get ahead of itself as it reached an extreme premium to the cash …

Walsh Trading Daily Insights Commentary July Lean Hogs opened higher, down ticked to the session low at 89.70 and then surged to the high of the day at 93.125. The took out resistance at 90.40 and 92.375, stalling just below resistance at 93.50. The stall turned in to a major pullback, taking price below the key level at 92.375 to …

Commentary Corn and soybeans traded higher overnight amid weather concerns, though they pulled back from their highs towards the end of the session. Wheat posted a two-sided trade overnight into Mondays session with Chicago up 3 cents, Kc down 1 cent, and Minneapolis up 2 cents. Spread maneuvering was featured. The change in the Midwest weather pattern happened as predicted in my …

Walsh Trading Daily Insights Commentary July Lean Hogs opened lower, down ticked to the session low at 86.975 and then rallied the rest of the session to the high at 90.20, a new high for the up move. It settled near the high at 89.625. The July contract has rebounded convincingly since making a low back on May 26th at …

Commentary For 2023-24, USDA increased ending stocks 35 million bu. to 2.257 billion bushels. Total supply increased 35 million bu. amid bigger beginning stocks (old-crop carryover). Total use was unchanged with no usage adjustments. Corn market fundamentals remain negative in my opinion. Recently poor exports are pointing 2022- 23 carryout higher, which means larger 2023-24 beginning stocks. Which means in …

Walsh Trading Daily Insights Commentary July Lean Hogs opened lower and then rallied to a new high for the up move. It reached 88.725 and then reversed course, trading to the low at 86.25, and then consolidated the rest of the session to settle at 86.925. The early rally took price back to resistance at 88.325 and price wasn’t able …

Commentary The upcoming WASDE on Friday will be a reminder from the USDA of how big a yield the USDA is working with on the balance sheet. A 181/182 BPA yield is a monster amid a production number of 15.2-billion-bushel crop. Given that its June, the trade expects few changes from the govt and it’s a rarity to change the …