Yntegra Trading | 2015 | May

Date archive: May 2015

Cattle futures again trading both sides of unchanged yesterday before settling firmer. Interesting to see the nearby June live cattle contract printing a trade within the $151-152 range in 19 of the past 23 sessions (and 33 of the past 46!), some evidence of the amazingly sideways, choppy pattern we’ve seen develop over the past…

The wheat market tried hard to overcome continued USD strength and pressure from favorable weather on the horizon yesterday, but failed to maintain enough momentum. Updated forecasts show an opportunity for the southern Plains to dry out in the 6-10 day range, but rain chances build further out. Spring wheat areas should get needed rainfall…

The prognostications on the US$ are keeping it stronger. The main currencies in the index appear to be on a weaker tone due to their govt. policies into the foreseeable future. This is going to be a difficult marketing year for beans and meal with SA currencies weak as well and plenty of their products…

Values continued to sink during yesterday’s session as we chop through what was considered heavy support at $3.50 and down to contract lows. Fundamentals remain bearish though technicals at current levels point to an oversold market. As El Nino fortifies, trade projecting production estimates to increase from the USDA moving forward as private estimates now…

The cattle markets traded both sides of unchanged yesterday before closing modestly firmer, remaining stuck in a choppy sideways trading range that has mostly held for the past two months. May feeder cattle futures expire tomorrow and continue to inch higher as we converge with a cash index that has been moving higher as well….

Turn around Tuesday came in full force yesterday, taking everything that was gained to start the week. Trade seemed less concerned with excessively wet conditions and cold temperatures, but felt that an improvement in conditions last week was enough to overcome adverse weather. Export inspections were within the estimate range at 310 TMT but were…

A technically bearish close didn’t see a whole lot of follow through in the night session. We will see if daylight brings any different of a reaction. The weather is not as bad as some predicted cold wise and the rains are not a problem at this point with the planting already ahead of normal…

Corn values sink on positive planting progress data Monday evening and a stronger US Dollar. Funds continue to build on shorts and now net sellers of 132k contracts. Producers gradually releasing tight grip on old crop stocks though trade estimating most significant selling will occur in July/Aug time frame. Southern Plains seeing showers scattered across…

Cattle futures traded solidly higher yesterday in both the feeders and the fats with many contracts now back to the very high end of our recent trading range. Open interest up a sharp 7K contracts yesterday would be indicative of new buying, not short covering. Spec funds adding length as the US$ has turned lower??…

KC wheat traded in a fifteen cent range yesterday, mostly on the lower side but closed 1 ¾ higher. Short-covering began after the morning session opened but late buying interest wiped out losses. Stories began to surface after the close on Wednesday of an explosion along a rail line in Ukraine that will likely delay…

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