Category: Ag Markets Update

Cycles still suggest that grains should top out the first few days of the week and turn lower into Friday and probably early next week. Cattle on Feed report was negative and there probably is a little room for it to fall yet but could be a “cattle on fade” situation, as we think they will buy dips for the rest of the week. Hogs should hold up until at least Wednesday.Continue reading

FOR FRIDAY: (1/27) A number of cycles early next week suggest recoveries for grains and livestock so we’re reluctant to press shorts. Cattle may have a big fall on Friday and then that will set up a buy for next week. Hogs look like they topped but have a recovery next week. Without a secondary high for grains, there’s nothing to sell. Not likely to do much on Friday but we do have a lot of set-ups by Monday for next week.Continue reading

FOR THURSDAY: (1/26) Often difficult to see grains higher on a Thursday but a larger cycle into Sunday night/early Monday my allow them to stay up. Cattle are waiting for the COF report and should be sluggish. Hogs still have time and room to go higher.Continue reading

FOR WEDNESDAY: (1/25) Grains may complete retracements overnight and recover . Still, the market is a bit heavy and if there is a 5th wave up, we should use it to get short. We had grains completion cycles upward by Sunday and if we make a double-top or divergent high on corn, we would sell. Beans are more problematic without 1107 or 1120 coming in and wheat is struggling like always. Cold storage report was friendly for pork and we need to be long. Cattle should recover on Wednesday but then be sideways into the report on Friday.Continue reading

FOR TUESDAY: (1/24) Markets are relatively quiet. Meats are looking out to USDA report later in the week. Grains are rather sluggish with the trade wondering if Trump will hurt relationships with China and hurt grain exports. Grains look higher on Wednesday and if there’s no bloodbath on Tuesday, we may still be open to buying but are going to be patient. Same for meats.Continue reading

FOR MONDAY: (1/23) Markets look higher Monday and we’ll have to see how weather shifts over the weekend and maybe we will be able to play beans even though they are a bit vulnerable but probably not done. Still open to 372 on March corn at 450 on March wheat before hedges happen. Meats look lower on Monday if you’re into selling and can find a good risk/reward.Continue reading

FOR FRIDAY: (1/20) We logically would expect end-of-week profit-taking after nice run-ups but market looks higher Monday and we’ll have to see how weather shifts over the weekend. Cycles for meats may turn a bit tired which usually means upward movement will be limited and usually it leads to profit-taking. Cattle may have a better chance to rally on Friday. Inclined to sell hogs if we get a chance.Continue reading

FOR THURSDAY: (1/19) Usually grains are lower on Thursday but there’s one cycle that might hold the market open all day. We sense that the grains may come off over the weekend. Running out of time for hogs and cattle, and they are getting heavy but still should hold up another day.Continue reading

FOR WEDNESDAY: (1/18) If we get a 1-day pullback on grains, they’re probably a buy and we’re open to being long cattle 1-2 more days and for buying hogs. Is SA weather a game changer? May be and will hold the market up into the end of the month.Continue reading

FOR FRIDAY: (1/13) Seeing profit-taking setting in for beans and wheat on Friday and probably a sale early Friday and a 2-3 day hold. Cattle should be a buy for 2-3 days but we don’t like to deal with long weekends and winter weather changes. Markets are closed Martin Luther King day and reopen on Monday night. Continue reading