Cattle and hogs look lower the next few days

FOR FRIDAY: (10/26) Not seeing any major energy for grains to bounce until early next week so we should stick with shorts for a few more days and if we get enough of a lead on shorts, we can hang on. Cattle and hogs look lower the next few days.Continue reading

Grains looking lower until early next week

FOR THURSDAY: (10/25) Not seeing any major energy for grains to bounce until early next week so we should stick with shorts a few more days–and if we get enough of a lead on shorts, we can hang on. Cattle have a cycle high on Thursday and we’ll have to move up stops and probably be short into Friday but cycles will get volatile here. Limit-up on hogs is making them untradable. We also have a very major cycle high due for them on Thursday and then they turn lower.Continue reading

Hogs close to getting overbought

FOR WEDNESDAY: (10/24) Grains recovering from oversold conditions but still seem in trouble even if we get a bounce on Wednesday. Cattle have at least one more day of bounce in them and hogs are close to getting overbought with a new nigh on Wednesday.Continue reading

Grain cycles lower next few days

FOR TUESDAY: (10/23) The 29/30-day cycles are lower the next few days so we can still be selling grains but beans continue to hold a very key area at 855-56 and corn above 363 are healthy. Cattle on Feed report was supportive for back months and cold storage is mixed and not sure how the trade will react to it.Continue reading

Harvest pressure likely to take over with dry weather

FOR MONDAY: (10/22) We failed to get into beans or corn but did get short wheat. Harder to chase with the market so oversold but not seeing anything to lift it up sharply. Talks with China at the G-20 are scheduled for Nov. 29, which is quite far away. Harvest pressure will take over with dry weather. Cattle on Feed report was mildly positive for back months. Cold storage comes out after the close on Monday.Continue reading

Corn should hold 368


FOR FRIDAY: (10/19) Grains failed and topped early and now they look lower into at least Tuesday and possibly longer. Trade should short-cover cattle before the COF report and we’re not clear on action next week. Hogs are getting oversold and close to key support.Continue reading

Not sure beans will be up for more than a day

FOR THURSDAY: (10/18) Running out of time for upward action and basically only Thursday and then could be lower into at least Tuesday or Wednesday of next week and probably even Friday. Exiting long grains and will get short on Friday. Cattle traders waiting on COF report after the close on Friday, and cattle should fall on Thursday and short-cover on Friday.Continue reading