Soy Complex Soy meal has led the wave higher in the soy complex and has been the catalyst for outright beans to rally amid short covering. March beans traded up to a five-week high at 987 before pulling back to close at 984.4. The rally in both meal and beans comes on two fronts. In beans, managed money as of …
Soy, on the run, when will it end??
I must admit I am perplexed by the markets. Perhaps there are new days that dawn in markets. ( I don’t believe this) I believe in the theory of reflexivity. The origin of this theory is perhaps George Soros. No political interest here please. A genius investor, there has been no doubt. Markets tend to move in a direction, Macro, …
Livestock Report
Live Cattle The April Live Cattle is now the lead contract as the volume is higher than the February contract. The April contract grinded higher on Thursday, January 18, 2018. It made a new high for the up move, reaching 123.60. It ended the session at 123.55, just above resistance at 123.125. The session high is just below the January …
Pump Pressure: Gasoline ( RBO ) Futures
February RBO Futures Its been quite a run since the early summer months of last year when the sun seekers and road trippers splurged at the pump helping the market spring off lows of roughly 1.30. I’m staring at multiple price charts of the February RBO futures and a few things just jump off the page. Today’s extreme …
After Mixed Data Gold Settles Slightly Lower
After Mixed Data Gold Settles Slightly Lower We saw several data releases that were a mixed bag for Gold. Initial jobless claims announced today are at the lowest level since February 1973. U.S. housing starts fell 8.2% MoM, while new building permits came in better than expected somewhat offsetting the housing starts data. The Philly Fed survey showed weaker than …
Grain Spreads
Soy Complex Outright beans and meal showed some impressive gains in that they bounced from overnight and morning selling to finish the day positive. It looks to me that old crop/new crop bean and meal spreads have found some buying interest in the near term. Part of it stems from the funds holding sizable shorts in outright beans while a …
Livestock Report
Live Cattle The February Live Cattle stampeded its way higher on Wednesday, January 17, 2018. It went limit up (121.10) and remained there for most of the session, with furious trading at settlement time taking it below limit and to the limit. I don’t have settlement but it ended the day up limit as after the settlement period it went …
Livestock Report
Live Cattle The February Live Cattle tested support at the 100 (117.35) and the 200 (117.20) DMAs, making the low for the day at 117.375 on Tuesday, January 16, 2018. Price once again respected these support levels and by the end of the session was testing the session high (118.40), reaching 118.30 and ending the day at 118.15. It challenged …
Gold Higher on Equity Volatility and Crypto Market Plunge
Gold Higher on Equity Volatility and Crypto Market Plunge Gold settled higher Tuesday starting the week in positive territory despite the dollar also finishing positive. The major stock indices started the session positive but moved consistently lower throughout the day as underwhelming earnings from Material and Energy companies dragged indices lower. This also corresponded with an uptick in the VIX …
Be Ready to Hedge Beans
This Rally in beans is driven by hope. Hope that the south American crops will dwindle. The reality the net is larger than we started the crop year. Also, this rally is driven by money flow. The funds really want a bean rally. They are pushing the envelope of what the fundamentalist may find appropriate. None the less, we are …