Agriculture

US Corn Weekly Review: Remembering $7 Corn Prices

For this self-avowed corn trader of nearly 16-years, the last 20-months in this barren wasteland of a market have been anything but prolific. Nearly every trading session has left me with the uninvited, yet distinct aftertaste of utter indifference. The corn market has read like a 21st century rendering of Milton’s…

Tactical Breakout In Soybean Meal Underway

In the Soybean Meal market, commercial hedgers are maintaining their largest net long position in history. This, combined with public sentiment sitting near multi-year lows and March being the second strongest period of the year, suggest higher prices may be ahead for Soybean Meal. Structurally, Soybean Meal peaked in late…

Coffee Futures Update: Big Rally Coming If Lows Hold

If you follow coffee futures, you know that it has been a frustrating year. Rallies have been stifled and price has fallen in a descending channel. In short, it’s be a grind lately. But there may be some good news on the horizon… IF the lows hold. You can see…

Corn Futures Weekly: Inside The National Ethanol Conference

I spent the early part of this week at the 2016 National Ethanol Conference in New Orleans. All anyone had to do was take one quick glance at the list of attendees to notice the immediate and inseparable link between ethanol and corn. I’ve noted in previous columns that nearly…

US Corn Weekly Review: February WASDE Report Summary

February WASDE Report Summary For Corn and Soybeans: On Tuesday the USDA released its February 2016 World Agricultural Supply and Demand Estimates (the February WASDE report). There were very few surprises in the report but it did weigh a bit on corn prices (futures). In corn the USDA increased the U.S. 2015/16…

Cocoa Futures Setting Up For A Tactical Bounce Higher

If you’re on the sidelines in the equity market, or don’t necessarily have much conviction long or short at current levels, Cocoa futures may be the non-correlated trade setup you’re looking for. There’s no clear edge in terms of sentiment or seasonality, but the price action suggests that a tactical…

9 Market Themes To Watch Heading Into 2016

First of all, I want to say that the purpose of this post is not to make predictions about the future, so if you’re expecting a 12-month price target for the S&P 500, you’ll want to look elsewhere. Throughout this exercise I used the weight of evidence present in markets…

Soybeans Mean Reversion Has Bullish Traders Looking Up

The presence of flat 200 day moving averages throughout many of the US Stock Market Indices and sectors, combined with a few other factors, is causing me to maintain a neutral stance toward equities for the time being. Luckily, as a technician I can take advantage of opportunities in other…

U.S. Corn Weekly Review: Can Futures Rally Back To $4.00?

Corn futures moved sideways to slightly higher this week; however that wasn’t much consolation for Corn Bulls with CZ5 still trading within approximately a dime of the current contract low of $3.56. The story about beaten down corn prices has been by now well-rehearsed and regurgitated by nearly all market…

US Soybeans Weekly Review: January Futures Hit 6 Year Lows

January soybean futures ended the week lower, closing down 7 ¾-cents per bushel on Friday afternoon finishing at $8.55 ¼. That close was within 5 ¼-cents of the current contract low in SF6 of $8.50, which was established on 11/10. The soybean market turned aggressively lower on Tuesday following the…