Commentary In my opinion last Friday’s USDA crop report was about as tame as they come, containing few surprises. It leaves weather, near term demand and focus on the June 30 acreage report as the drivers of price in my view. The acreage numbers truly do matter in a year when supplies are tight, but weather, as its 90 percent of …
Market Commentary
GENERAL – The CRUDE is forging highs today. The fundamentals remain very supportive. The US is not going to change policy. In addition, the UAE indicated that the ability to raise supply relative to the demand is limited. The markets will be supported on the fundamentals and the technical outlook. The big banks, led by Goldman are predicting 140 dollar …
Livestock Report
Walsh Trading Daily Insights Commentary June Lean Hogs opened at the low of the day (107.75) and then surged to the session high at 110.125. All in the first 15 minutes of trade. It spent the rest of the session in sleep mode, consolidating within the high and the low. The low was below the Monday low and below support …
Feedgrain Commentary
The wheat market surged today on the resumption of Russia bombing Kiev. This could limit the advances being made for Ukraine exports from certain regions of the country. The market clearly will be susceptible to each issue from the black sea region. In addition, a port was destroyed in Ukraine limiting export prospects. It seems prudent to expect more problems on …
Market Commentary
GENERAL ENERGY – The crude is down nominally today. Although near highs. The market, as suggested, has the demand, the technical and the political reason to remain supported. The demand destruction theory has yet to materialize. Look for the administration’s stance on energy. The lack of domestic expansion continues to be supportive energy. The natural gas market now solidly above …
Livestock Report
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, …