Walsh Trading Daily Insights Commentary June Lean Hogs opened lower and kept on going down. It made the high at 110.50 and broke down to the low at 107.825. The low is just below support at 107.925 and buying came back in vogue as price grinded higher the rest of the session to settle at 108.975. Settlement was below the …
Grain Spreads: Wheat Notes
Commentary July SRW wheat rose 53 cents to $10.93 and July HRW wheat rose 49 cents to $11.70, both near session highs. July spring wheat rose 38 3/4 cents $12.30 1/2. Wheat futures extended an overnight rally sparked by doubts over a potential agreement to resume Ukrainian wheat shipments, with delayed planting in the U.S. Northern Plains also lending support. Ukrainian …
Market Commentary
GENERAL EQUITIES – The stocks are rebounding today. This is to be expected after weakness. Again the markets are in a Bear in my opinion. This will continue to be the case as outside influences dominate. The cost of capital is climbing slowly but surely. The cost of goods CPI is going to hurt the consumer. This will have a …
Livestock Report
Walsh Trading Daily Insights Commentary June Lean Hogs gap opened higher, traded to the session high at 114.00 and then rejected the rally. It closed the gap and tried to rally after making an early low but couldn’t take out the high and traded lower the rest of the session to the low at 111.825. It settled at 112.175. Futures …
Market Commentary
GENERAL GENERAL A few general thoughts that reflect my opinions. EQUITIES – The market is lower today, but bouncing off the recent lows. It is my opinion as I sit here today that nothing fundamentally has changed for the positive. To the contrary, rates are just starting up. The housing market is slowing. And, the energy prices, at the very least, …
Grain Spreads: Wheat vs Corn
Commentary It is my belief that corn futures extended overnight declines and sank to nine-week lows on spillover from a selloff in wheat, strong U.S. planting progress, and a generally favorable weather outlook for crops. USDA late yesterday said 86% of the U.S. corn crop was planted as of Sunday, up from 72% a week earlier and just one percentage …
Market Commentary
GENERAL The EU it appears is suspending imports from Russia related to CRUDE. The Crude market rallied close to 120 p barrel. The market has since backed off and is 1 per barrel higher. The reality of the global market is that the normal flows are off. This is supportive of crude. In addition the speculative side of the market will …
Grain Spreads: July 2022 Soybeans
Commentary In my opinion, should beans continue their ascent, we could see them touch near $18.00 per the chart attached. It is my belief they could trade a lot higher than 18.00, but I’m not sure anybody knows what we are seeing here. However, if July soybeans trades back underneath $17.00, we could see a deeper correction. The rally higher …
Grain Spreads: July22/Nov22 Soybeans
Commentary July 22 soybeans have taken a small breather from the low 17.00 level seen last week. This comes as corn and wheat have been pressured on rumors of wheat emerging all of a sudden from Eastern Europe, while China has agreed with Brazil to source more corn moving forward. I included a chart of July 22/Nov 22 beans here. …
Market Commentary
The Crude market continues to climb. This is driven by the administration policy regarding energy. The perception has changed. The average price of Gas in all 50 states is above $4.00 per gallon. This is a first time ever moment. Diesel prices are at all time highs. The stock market continues to exhibit weakness. Look for more of this given …