Yesterday there was a strong recovery in outside markets that helped to support the market and I’ve been hearing that traders are looking at the heat in the central and southern plains as a factor which may push beef production lower. With this lower than expected production, the average dressed cattle weights for the week ending on June 25th came …
Soy & Corn Market Commentary
SOY The bean market saw a two sided trade today. The market was able to close a bit higher. This recent fall may be enough for a minute. The crop condition ratings fell 2% week to week. They remain above the ratings last year. The trade however may wait to see how much recent rain, and the forecast will help …
Livestock Report
Walsh Trading Daily Insights Commentary August Lean Hogs opened higher, traded to the session low at 102.15 and then reversed course and rallied the rest of the session to the high at 106.425 and settling at 105.95. The rally stalled just shy of resistance at the declining 21-DMA at 106.525. There is strong resistance just above here at 106.85 and …
Soy Market Commentary
SOY The beans are supported today. The old crop tightness has been supportive of late this week. The market in my opinion may have dialed the old crop stocks in to the price. The market at some point will begin to focus on the more than ample supply shaping up for the new crop. The weather of course will play …
Grain Spreads: Weather to Rule
Commentary July 2022 corn gained, and deferred contracts slipped amid bull spreading and narrow-range trading ahead of USDA’s Acreage and Quarterly Grain Stocks reports tomorrow. The window for a significant weather market scare developing for the corn crop is narrowing a bit, with extended weather forecasts now reaching out into early July and showing no serious threats in my view. The …
Livestock Report
Walsh Trading Daily Insights Commentary August Lean Hogs gap opened lower, traded to the session low at 103.45 and then reversed course and raced to the session high at 105.75, closing the opening gap in the process. The rally didn’t hold and price fell the rest of the session, settling near the low at 103.825. August Hogs are trading at …
Cattle and Hogs 6/28
Monday’s trade was supported from the Cattle on Feed report on Friday. The Cattle on Feed report showed tightening supplies in the fourth quarter which was reflected in the deferred months of the feeder cattle contracts. November was up close to 2 dollars at the close while the October contract was up roughly 1.85 at it’s close. Today the market …
Grain Spreads: Wheat Thoughts
Commentary The dead cat bounce that we saw on Friday in wheat and during last night’s opening Sunday night session could not hold into Fridays close, while we made new lows during today’s session with values posting new multi-month lows into the close. It looks like to me that the rug has been pulled out from under the bull campaign …
Soy Market Commentary
SOY The beans liquidated yet again today. The reasons remain the same. The weather prospects are mostly positive. The bean crop has a long way to go till it needs to be overly worried regarding weather concerns. In addition demand concerns given the overall economic outlook are threatening. This is a real issue in my opinion and something I have …
Livestock Report
Walsh Trading Daily Insights Commentary August Lean Hogs gap opened lower, closed the gap at the session high at 108.55 and collapsed! It broke down the rest of the session to the low at 103.575 and it settled near the low at 103.675. It settled below support at 104.35, keeping pressure on the market. Recession …. Recession …. Recession was …