Since last weeks surge higher, gold and silver have been on a roller coaster ride this week. Mondays trade saw all the previous weeks gains whisked away only to see both markets rally back near the prior weeks highs by the close today. While equities remain bid, it has been the sell-off in the Dollar that has been the main …
Ag
The Seasonal Rally doesn’t disappoint We rolled higher led by beans and meal. Oil share taking a pounding yet again. As I have said , we are entering a buy period as harvest is coming to a close. And, the market now looks to South America for production. I have essentially written the same article with different thoughts and words for a couple …
PER-THANKSGIVING Chart Outlook
Let’s give Thanks, confidence in System? Change, FRB Yellens’ natives getting restless? Yield curve flattens. 2 year i rate closer to tens before yearend, .60-ish Is this this markets players ready to blow or maybe flip, long bonds like in Summer 2016 at highs? My diary had a $40.5bil player flip long at those 2.08% all time lows in rates …
Livestock Report
Live Cattle The February Live Cattle contract held the 123.125 support level Tuesday morning making the low of the day at 122.75. A strong rally followed from the low with price trading past the 124.75 resistance level. It made the high at 124.875. It pulled back from there and ended the session in the middle of the range at 124.00. …
Sea Legs: February Live Cattle
February Live Cattle The February Live cattle futures managed a modest recovery in today’s action. Early week lows came in around the .382 retracement of the entire move and the .786 from the inner fourth wave extreme. This was touched upon in yesterday’s post. Also of note was the momentum divergence apparent in the smaller time-frame price charts. …
LC FC, Hogs, same pattern? Lumber, Corn Wheat supports.
Cattle-panic chaos day? Lumber 3rd limit down? I do these in every market for Pro’s of all types. If it is not here and you want to see why this is what you need to use, call. 312 957 8248 biz hr.s, or email direct. 10% moves fast everywhere, too many to list. Stock up 1,000% in 2 years! Bit …
Flattening Trend Controlling Trading
The bond market continues to stymie the bears who are adamant that the stage is set for a normalization of the interest rate structure (shift upward) as QE wind down commences and looming tax cuts are set to raise deficits significantly. The Feds are on track to raise short rates next month and possibly another three times in 2018 but …
“Where seldom is heard a encouraging word”: February Live Cattle
February Live Cattle I have taken the liberty of altering the lyrics of the iconic cowboy campfire song Home on the Range in an attempt to capture the current mood of the live cattle market. In early week trading action prices continued their downward path to finish down 1.650 at 123.025 just off day’s low of 122.650. We …
Macro Ag
Not much to say today with the market. Two sided trade. The oilshare took a healthy beating here. The market is focused on the outside vegoils, and the thought of possible dryness in argentina which would effect the meal. This in my opinion is so far fetched. The reality is that the world is awash with beans. The exports are …
Jolly Green Giant: January Soybeans
January Soybeans The January soybean market rose robustly in end of the week action. Today’s range (TrueRange=open to close) was roughly 18 points (cents) measuring 1.618 of the daily 14 period average. The weeks TR was roughly 20 points and fell short of its average. During periods of escalating readings dating back to 2008 the week’s average will …