March Copper Futures About a month ago I wrote a bullish copper report. I know belief we are close to the termination point of this two year advance. The overhead convergence zone on the weekly price chart comes in just below 3.52. Currently It appears that there will be noticeable momentum divergence in multiple time-frames if …
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 …
Gold Higher On Weak Dollar While Palladium Hits All Time High
Gold Higher On Weak Dollar While Palladium Hits All Time High. Gold settled higher Friday finishing the week in positive territory for the fifth week in a row. The U.S. dollar continues to be the main source of support for the metal as the dollar’s fall also pushed the euro to a three year high. Inflation data came out this …
Gold and Platinum Settle Higher While Silver and Copper Settle Lower
Gold and Platinum Settle Higher While Silver and Copper Settle Lower Gold settled higher Thursday on continued weakness in the U.S. dollar. A Chinese official announced that the news yesterday on slowing U.S. Treasury purchases was unfounded, and supporting that statement, the 30 year treasury auction today saw large foreign demand pushing bond yields down. This continued Gold’s rise from …
South America Grain Weather Issues from WxRisk.com
For the complete Report, CLICK HERE. For those interested in grains and livestock, Walsh Trading hosts a FREE weekly Grain and Livestock webinar. This webinar is hosted by Sean Lusk, Director and Ben DiCostanzo, Senior Technical Analyst with Walsh Commercial Hedging Services. Sean and Ben look at where the markets currently are and more importantly what hedgers and investors should …
Hangin by a Hoof: February Live Cattle
February Live Cattle The February Live cattle market managed to somewhat keep it together and finished down .800 just off the lows of the session. They’re are a few noticeable technical developments as far as I see it. The process of top-down analysis calls for the study of longer term charts and working down to lower time-frames. By …
Grain Spreads
Soy Complex Old crop new crop corn and bean and meal spreads continue to trade range bound into Friday’s key USDA report. While funds press the short side in outright soybean contracts, May/Nov 18, July/Nov 18 and July/Dec Soy meal spreads have barely budged lower. This most likely states that longs are liquidating ahead of the crop report across the …
Metals Settle Higher Amid Inflation and U.S. Dollar Concerns
Gold settled higher Wednesday on a weakened U.S. dollar, touching an intraday peak of $1,328.60, a 4 month high. China announced that it is considering slowing U.S. Treasury purchases, pushing yields to new highs as well as putting downward pressure on the U.S. dollar. The U.S. dollar felt additional pressure as U.S. import prices for December came in lower …
Livestock Report
Live Cattle The February Live Cattle tested support at the 200 (117.10) and the 100 (116.925) DMAs, making a new low for the down move at 116.70 on Tuesday, January 9, 2018. Price once again respected these support levels and by the end of the session was testing the session high (118.00), reaching 117.975 and ending the day at 117.95. …
Soybean opportunities
The USDA report on Friday will be important. The acceptance of a very large domestic and global carry may come to the forefront. The market participants are looking high and low for a bull story in beans. The weather in SA may be dry. Well, some areas, the reality is the private analysts are 2-6 million tons larger in Brazil …