Category: Ag Markets Update

FOR FRIDAY: (11/24) Option expiration for Dec. grains will dominate thin holiday trade on Friday. We do see higher grains next week and hogs look like they will bottom early next week and turn up into Dec. 1st. Cattle may continue short-covering and set up new shorts by early next week.

DEC. CORN (electronic ok)
TODAY’S COMMENTS: (11/24) Market hit 347 and came off. Option expiration is on Friday and the key price of puts and calls with the most volume is 350 so the chances of the market expiring near there are high so option writers won’t have to pay up. We see the market higher next week and will roll to the March contract by Monday. Will leave it alone for Friday.

FOR WEDNESDAY: (11/22) Never fond of holiday trade so best to continue to take profits on short cattle and long wheat, and we’re ok holding long beans. We do see higher grains next week and hogs look like they will bottom early next week and turn up into Dec. 1st. Cattle may continue short-covering and set up new shorts by early next week.Continue reading

FOR TUESDAY: (11/21) The week of Thanksgiving is usually higher for grains and we can still buy for a few days as grains are usually higher through the first part of Thanksgiving week.Continue reading

FOR MONDAY: (11/20) The week of Thanksgiving is usually higher for grains and we can still buy for a few days still and usually they’re higher through the first party of Thanksgiving week. Cattle on Feed report was bearish but will be hard to get in but may get a chance with lower action for a few days. Hogs probably lower a few days.Continue reading

FOR FRIDAY: (11/17) Trade waiting on the Cattle on Feed report. Not expecting much from grains but some short-covering could happen if the trade is worried about delays in harvest. Boring activity. Usually the Monday before Thanksgiving is a buy.Continue reading

FOR THURSDAY: (11/16) Wheat was the only one to break harder today and hit the minimum exit but we did make money on the rest of short grains. Starting to see these markets higher into early next week. Hard to bottom-pick a bear so we’ll observe until the morning.Continue reading

FOR WEDNESDAY: (11/15) Getting close to the seasonal low for grains before Thanksgiving. It may come in by the close of Wednesday, as some cycles look higher now from Thursday into Tuesday. We’re covering Dec. grain hedges to be safe. Meats are in trouble but hogs due for a 1-2 day bounce.Continue reading

FOR TUESDAY: (11/14) Meats are due for a few days bounce but it may not mean much. Grains look weaker a few more days and beans fell enough to turn charts and start projecting a seasonal low toward 946 by Thanksgiving. Continue to use any strength to get short.Continue reading

FOR MONDAY: (11/13) We had counted on more downward action on Friday but didn’t get much. The 29/30 day cycles are weak into Wednesday and seasonals are lower usually after the USDA report but Monday could be volatile and whippy if any bullish news comes out. We won’t panic about shorts given seasonals. Cattle are bit oversold and a 2-day bounce would be healthy but not sure they are done yet.Continue reading

FOR FRIDAY: (11/10) Grains look lower on Friday and there still may be some money to be made but not sure we can hold on if we do get filled very long. Cattle cycles look weaker into the open of Monday but turn volatile.Continue reading