Market Analysis
Grains were lower in Thursday’s trade but are attempting to stabilize in the overnight and early morning trade.
Grain futures are mixed in the overnight and early morning trade as traders, hedgers, and other market participants gear up for the monthly WASDE report, out at 11am CT. These are the levels to keep a close eye on.
Lean hogs have been under heavy pressure for the last month and a half, but have started to show signs of life near the lows of the year. Has the risk/reward shifted back to the buy-side?
Grain futures price were able to hold halfway decent in Tuesday’s trade, but that momentum has vanished following the mid-week intermission. Will July options expiration offer stability to prices?
Livestock Bulls were disappointed in Tuesday’s trade. Will the mid-week intermission help the market stabilize or is there more pressure to come?
Corn and soybean futures prices firm overnight following the weekly crop progress report, which showed a bigger decline in conditions than expected.
Cattle futures had an incredible move higher on Friday but failed to find follow through in Monday’s trade, despite a weaker grain trade. Has something changed?
Grain markets failed against technical resistance late last week which has led to weakness to start this week’s trade. Will a holiday week and July options expiration keep play a role in price action?
Lean hogs and cattle futures prices had an impressive day on Friday, will that momentum spill over into strength to start this week’s trade?
Grain Markets failed at resistance on Friday which has led to pressure to start this week’s trade. With Markets closed on Wednesday and July options expiration on Friday, it could setup to be an interesting week!