I've been keeping a close eye on April lean hogs, and as I mentioned in Tuesday's Afternoon Commentary, what I saw over the course of the session was "alarming". Not only did the April contract close $2.375 lower for the [...]

This morning I'm taking a look at the second new-crop market I ran out of room to talk about in my latest Weekly Column, "Spring Training". Recall from that piece I mentioned the intention was to not only break down [...]

As I mentioned in Monday's Morning Commentary, the new-crop July Kansas City wheat contract posted a bearish spike reversal last week. This less than reliable reversal signal was created as the July KC hit a new contract high of $6.67 [...]

As I mentioned in Monday's Morning Commentary, the new-crop December cotton issue posted a bearish key reversal last week, a pattern that has proven to be one of the more reliable in commodities over the last year. Dec cotton posted [...]

I had a request come in for a look at the weekly crude oil chart, with last week showing the market continues to climb higher. The spot-month April contract hit a high of $63.81, the highest level for the market [...]

I had a request come in for a look at December live cattle. While not as dramatic as the reversal we've seen in the April contract the last two weeks December did post a bearish outside range this past week, [...]

A good friend sent me a quick message Thursday afternoon asking if I could take a look at the chart for August feeders. As always, I started with the weekly chart, and from a technical point of view, I didn't [...]

I had a good question come in shortly before Thursday's close, "Is this a bearish key reversal in May soybeans?" From a technical point of view the answer is "Yes*", but please note the asterisk. Yes, May soybeans posted a [...]

The old-crop corn market came under increased pressure as Thursday morning unfolded, highlighted by the May issue falling as much as 13.25 cents before finishing the overnight session 10 cents below Wednesday's close. Trade volume was heavy, with May registering [...]

As I mentioned in Afternoon Commentary, new-crop July Kansas City (HRW) posted a new contract high of $6.67 Wednesday. But that was only part of the story. A look at the continuous chart for July KC wheat only shows this [...]

The April live cattle contract is giving us signs the stampede higher has come to an end, having turned the corner into a new secondary (intermediate-term) downtrend. Last week saw April live post a new contract high of $126.70 before [...]

Let's say, hypothetically, one wanted to be bearish the soybean market. How crazy does that sound? From a fundamental point of view that idea could be considered straight-jacket worth given the strongest national average basis we've seen in more than [...]

As I mentioned in this space back on February 8 with the post "Expanding the Conversation", at the time the May-July corn futures spread looked to be building a potential expanding triangle. This is also known as a broadening formation, [...]

Rather than saying canola has been flying under the radar, a look at the weekly chart for the May contract shows it is actually flying above the radar as it posted a new high of $758.30 Monday*. Both the old-crop [...]

As I mentioned in Monday's Morning Commentary, the February 1 Cattle on Feed report was considered bearish by those who measure such things against pre-report estimates. As you know, I don't play that game, knowing most pre-report estimates are simply [...]

Last Friday I had an interesting conversation with a good friend in the livestock industry. Our attention turned to hogs, and he shared with me how his two fundamental indicators, propane and feed trucks, had confirmed what I've been saying [...]

As I mentioned in Wednesday's Morning Commentary, we need to pay attention to the alarms going off in the May-July soybean futures spread. After hitting a high of 19.75 cents inverse on February 4, the spread has quickly fallen through [...]

When last we talked about the US dollar index ($DXY) on February 5 ("A Matter of Time"), the discussion centered on how the minor (short-term) trend looked to be turning down based on a developing reversal pattern on the daily [...]

A good friend in the hog industry sent me a message over the weekend that included this thought, "I think pigs are soaring, not flying..." He is absolutely right as contracts raced to new highs last week on strong buying [...]

One doesn't have to cross their eyes much to see what looks to be the beginning of a new secondary (intermediate-term) downtrend on the new-crop July Kansas City wheat weekly chart. Since posting a new contract high of $6.6175 the [...]

With this week's Hump Day now behind us, and only a couple sessions standing in the way of the next weekend, a look at the weekly chart for April Live Cattle (LEJ21) shows us the contract looks to be nearing [...]

I had a great question come in this morning with my friend wanting to know, "Is the reversal in March corn spike or key?" The, at least through Wednesday's intermission, depends on the timeframe we are using. Daily Chart = [...]

I had a question come in Monday afternoon with my friend asking "How would you look at April hogs as far as wave counts?" As always, I appreciate your questions. In the case of April lean hogs, the contract looks [...]

Another of the spreads I mentioned, always mention, in Morning Commentary was the May-July soybean spread. As with the corn edition, this soybean spread looks to be in the process of establishing a topping pattern. Here we see the spread [...]

As I mentioned in Monday's Morning Commentary, the May-July corn futures spread out be in the process of establishing a topping pattern on its daily chart. However, the broadening formation, also known as an expanding triangle, is not one of [...]

As I just retweeted on Twitter, my friend Neils Christiansen of Kitco News included me in his weekly column discussion the various opinions of analysts and traders on gold. In it I talk about how I still see a secondary [...]

While I'm still a US dollar index ($DXY) bull long-term, this daily chart shows the greenback could be headed lower short-term. After posting a new high for its minor (short-term) uptrend overnight of 91.60, its highest mark since December 1, [...]

Though the US is only two weeks into the new Biden administration, I've had folks tell me the new president's Executive Orders have been the cause of the $1.00-plus selloff in soybeans and the sharp rally in crude oil. As [...]

A common question I've been asked of late is will China cancel some of these big corn purchases made recently? I understand the fear, for anyone who has been in this industry for any time at all has a story [...]

A look at the daily chart for June live cattle shows us some familiar short-term patterns: Last Friday's wide range from a new contract high of $119.775 to a daily low of $117.10, combined with a lower daily close, established [...]

As I mentioned in Tuesday's Afternoon Commentary, the spot-month crude oil contract posted a new high for the ongoing secondary (intermediate-term) uptrend of $55.26, the highest price posted since the week of January 20, 2020. While the market has easily [...]

The daily chart for May soybeans is showing a potential bearish breakdown Tuesday as the contract tested trendline support overnight. This support, connecting the minor (short-term) lows of $12.97 (January 25) and $13.3375 (January 29), is just over $13.52 on [...]

One of the more interesting daily charts as Monday came to a close belonged to the new-corp July Kansas City (HRW) wheat contract. Here we see an outside trading range, with the low of $6.1925 taking out the previous 4-day [...]

Now that we've turned the calendar page to February, we need to shift our sights out to the next round of contracts in both live cattle and lean hogs. Given that, Monday morning's focus is on the June Lean Hog [...]

A conversation last Friday brought up the correlation between 2008 and 2021 corn, and I concluded with I would post a chart comparing the two marketing years. While I'll also be looking at the cash market in the near futures, [...]

I'm putting another discussion of the May-July corn futures spread on hold this afternoon, as I had a question come in asking about the weekly chart for October live cattle. At first glance it seems the contract established a bearish [...]

From a purely technical point of view, the March soybean contract did what it looked like it should do Thursday. After posting three days up against its minor downtrend, the contract posted a sharp selloff. So far, the pattern on [...]

Things are about to get more interesting in the corn market. As I mentioned in Afternoon Commentary, both old-crop March and May futures contracts took out their previous highs from January 13, all while the minor (short-term) trend still looks [...]

I did an interview with RFD Radio Monday afternoon, and my friend DeLoss Jahnke asked what upside targets I had for March corn given the recent wild swings. I had to be honest with him, I didn't know, because I [...]

As we look ahead to spring planting season, summer field work, and fall harvest a great deal of attention is being paid to distillates (diesel fuel, jet fuel, heating oil, etc.). As I talked about in Seasonal Analysis last week [...]

In my latest Weekly Column, "$20 Soybeans!", I mentioned March soybeans weekly chart. There is a lot going on here, so let's take it point by point: The secondary (intermediate-term) trend could be considered down Weekly stochatics established a bearish [...]

I want to take another quick look at the March-May corn futures spread Thursday morning, given what looks to be a generally clear 3-wave downtrend pattern on its daily chart. Wave A (first wave) ran from the high of 0.75 [...]

Wednesday was quite a day, and there was concern all of its was loosely tied together. I had a question come in wondering if the rally in soybeans was over because noncommercial traders were selling due to the new administration. [...]

I truly appreciate all the comments that have come in following my latest Weekly Column "The Sun Also Rises". As I've said since early 2004, one of my favorite things to do is write a column. This time around, most [...]

I've had the opportunity to visit with a number of you folks the past few weeks, and one of the more frequent subjects is live cattle. Many of you have echoed the sentiment demand for replacement feeders is down because [...]

As you know, I spend a lot of time talking about futures spreads and cost of carry tables, with an occasional mention of forward curves. For definition, a forward curve shows the prices of as many futures contracts as one [...]

The flip side of the US dollar index, or the yin to the greenback's yang, is the euro (EURUSD). Given that, one would expect to see almost the exact opposite of the technical patterns for the dollar posted on the [...]

As I mentioned in my latest Weekly Column, "The Sun Also Rises", as we cross the midpoint of the month of January (and winter, for that matter), the US dollar index ($DXY) is in position to possibly establish another major [...]

Those of you who are a certain age will likely recall the old Atari view game "Breakout". In the game, one had to continuously bat a ball against a wall of electronic bricks, and it you hit the same spot [...]

Good morning everyone. I had a question come in Tuesday afternoon, and it only had to do with corn in the abstract. A good friend asked me to post a daily, weekly, and monthly chart for April Feeder Cattle to [...]

The idea of global economic recovery could be taking a detour, at least according to this continuous weekly chart for the nearby futures contract. Last week saw the March contract go to a new high of $3.7200, the market's highest [...]

The lean hog market was interesting again last week, led by the nearby Feb contract. Note last week's high of $72.00 was an exact test of the previous secondary (intermediate-term) high from the week of October 12, 2020. After hitting [...]

As you know, I've been keeping a close eye on the March-May corn spread for a sign the commercial view could be changing. What we've seen since the peak of 0.75 cent inverse on December 31, the spread has fallen [...]

Yes, I usually post basis charts in Basis Analysis, but this morning I'm taking a look at the technical chart pattern on the daily chart for the cmdty National Soybean Basis Index (NSBI, weighted national average). After posting a high [...]

I don't often post Candlestick charts, mostly because I haven't spent a lot of time studying them over the decades. However, as I was running the traps of the various markets this holiday weekend, February live cattle jumped out at [...]

A follow-up to Tuesday morning's Chart of the Day, "March Feeder Cattle: Thin Ice", shows the contract seemingly set to follow through said ice on its weekly chart. Both Tuesday and Wednesday saw March feeders post double-digit losses, with the [...]

As the old saying goes, a saying my fundamental analysis friends have told me countless times over the year, "Every wrecked ship at the bottom of the ocean was led by a Captain who studied charts." Or something along that [...]

I've had a number of conversations about the cattle markets the last couple days (Thank you everyone), with the most recent requesting an update on March feeders. Before I get into the analysis of this issue in particular, I'll add [...]

I'm sure we are all familiar with the old saying, "Fool me once, shame on you. Fool me twice, shame on me." From a technical point of view, we can revise this standard when talking about March soybeans, "Fool me [...]

As I mentioned in Monday's Morning Commentary, most of our attention could now turn to the March-May futures spread with the January issue heading into delivery later this week (though I'll still be tracking developments in the Jan-March spread). Some [...]

If I were to pick one word to describe recent action in the Chicago (SRW) wheat March-May futures spread it would be "Impressive". After establishing a bottom between November 16 and December 7, the low point being a carry of [...]

No, copper is not gold and often these two metals market can be found trending in opposite directions. As I talked about in Monday's Chart of the Day, "It's Not Bitcoin", Feb gold has been in a secondary (intermediate-term) downtrend [...]

As I mentioned in a Quick Take Monday, Feb gold has posted three consecutive higher closes again the prevailing secondary (intermediate-term) downtrend. Based on the Benjamin Franklin Fish Similarity that states, "Markets, like guests and/or fish, start to smell after [...]

As I mentioned in Monday's Morning Commentary, the initial reaction Sunday night through early Monday morning to news of another stalemate in Brexit talks over the weekend was a strong rally by the US dollar index ($DXY) and sharp selloff [...]

I haven't posted much about the Lean Hog market of late, with wild moves in most other markets garnering the bulk of attention. However, as we head into Friday's session a look at the daily chart for the Feb contract [...]

I talked about the January soybeans in Afternoon Commentary, but a similar spike in activity and price was seen in the more active March soybean contract at midday. A look at the 1 minute chart for March soybeans shows the [...]

I had a question come in Wednesday asking if the May feeder cattle contract was nearing a top, and before any thought of trends or technical patterns entered my mind, memories of writing up paper tickets to be called to [...]

There is only one word to describe late action in the June live cattle contract Wednesday: Bullish. The contract blew through its previous high of $113.00 (November 12) to $113.625 before closing just off the latter mark at $113.575, up [...]

An early morning message from a good friend asked, "Do you think Jan soybeans can close above $12 today?" My response was quite analyst-like, "I think there is a solid chance of that happening today." Anyone want waffles for breakfast [...]

The more active March soybean meal contract gained $6.90 Tuesday, gaining $1.40 on the May contract while losing $0.60 to the nearby January issue. This spread structure shows commercial buyers were in the market following the release of the November [...]

There have been some interesting developments in the March-May corn futures spread since my previous post a week ago today ("Crossroads"). Back on December 8 I was looking at how the spread was testing support at the 3.25-cent carry level; [...]

As the January soybean contract makes its way toward delivery at the end of this month, our attention turns to the March contract and the March-May futures spread. Last Friday saw this soon too be nearby spread close at an [...]

Okay, so my mind quickly connected the dots between the Benjamin Franklin Fish Similarity (mentioned in Monday's Morning Commentary) and March corn, coming up with a March of the Penguins theme, leading to the title. Yes, it's Monday, and I [...]

A look at this weekly chart for March Cotton and the first word that comes to mind is "Impressive". Even those folks who think technical analysis is nothing more than hokum and magic lines would have to admit this is [...]

As I mentioned in Wednesday's Morning Commentary, the most impressive wheat contract was March Minneapolis (HRS). The overnight session saw March Minny post a new low for its minor (short-term) downtrend of $5.4250 before rallying back above Tuesday's high of [...]

The March-May corn futures spread has reached a crossroads with Tuesday's close at 3.25 cents carry. When combined with like daily closes on November 23, November 24, and December 1 we are now looking at a quadruple bottom to a [...]

I had a question come in Monday asking if Feb live cattle was still in a secondary (intermediate-term) downtrend. My initial answer was the contract remained stuck in a sideways pattern, but by the end of the day February live [...]

As I mentioned in Afternoon Commentary, the big news at Monday's close was the breakdown by the Jan-March soybean futures spread late in the day. Technically, the target was the 3-cent carry level, equal to its low from August 7 [...]

I had a question come in early Monday morning regarding last Thursday's Chart of the Day taking a look at the daily chart for Jan feeder cattle. My friend wanted to know if the contract had confirmed the minor (short-term) [...]

February lean hogs look set to ride Wave C (third wave) of its 3-wave secondary (intermediate-term) downtrend lower after posting a bearish outside range last week. Note the weekly high of  $69.60 was well beyond the previous week's high of [...]

I mentioned in Afternoon Commentary that soybean contracts did not establish the same bearish technical patterns as corn contracts, with the key difference being soybean issue did not post new highs this week before selling off. The November 2021 contract [...]

As I mentioned in Morning Commentary Friday, corn contracts are in position to establish bearish reversal patterns on their respective weekly charts indicating secondary (intermediate-term) trends could be turning down. Contracts of both old-crop and new-crop are showing similar patterns, [...]

The January 2021 Feeder Cattle contract is getting interesting following Thursday's $2.00 selloff. Technically the contract looks to have established a top, with daily stochastics posting a series of bearish crossovers above the overbought level of 80%, most recently at [...]

Of all the key markets studied in inter-market technical analysis (stocks, bonds, commodities, and US dollar), its the US dollar index that continues to not fit the overall narrative. As I talked about in Monthly Analysis, the strong major downtrend [...]

The July Kansas City (HRW) wheat contract is dancing on a fault line as December gets under way, indicating its secondary (intermediate-term) trend has turned down. Week.y stochastics established a bearish crossover above the overbought level of 80% at the [...]

I've mentioned Monday is the end of meteorological fall. number of times over the course of the day, meaning the winter season starts at midnight (shudder). But all is not a frozen wasteland as a question from a good friend [...]

The January soybean futures contract almost posted a bearish outside range during the overnight session. After hitting a high of $11.99, as compared to last Friday's peak of $11.94, the contract fell to a low of $11.8025 shortly before Monday's [...]

I'm going to go out on a limb and say you likely heard about the Dow Jones Industrial Average (DJIA) crossing the milestone 30,000 level early Tuesday. Reportedly, the President of the United States took 30 seconds out of his [...]

A friend called me this afternoon to talk about the Jan-March soybean futures spread. He is looking to roll his short Jan futures forward to March to take advantage of expected continued basis appreciation through the early part of 2021. [...]

January Feeder Cattle posted a strong rally Monday, extending its spike move after testing its short-term downside target of $132.875 last Friday. While the argument could be made the contract (and many other cattle contracts) did not complete its previous [...]

The March corn contract looks to be in a bit of a precarious position, technically speaking, following Monday's session. After equaling its previous high of $4.3575 (from November 11), the contract closed at $4.3325. Yes, this was still higher for [...]

One of the markets that is set to have a big day Monday is lean hogs. Fundamentally, the November Cold Storage report is set for release later in the afternoon, though these numbers are as of November 1 and lean [...]

The February lean hog contract extended its secondary (intermediate-term) downtrend to a low of $62.90 during Thursday's breakdown. However, note weekly stochastics are still above the oversold level of 20%, at least partially, meaning the contract has more room to [...]

Lumber futures have been incredibly volatile over the course of 2020, with a seemingly endless string of hurricanes slamming into the US Gulf Coast, forest fires raging across most of the western half of the United States, and a pandemic [...]

The continued rally in the Dec 2020-July 2021 corn futures spread is incredible, slicing another 2.50 cents off its carry at Wednesday's close. From a technical point of view the spread is fast approaching the high end of its target [...]

When we think of April a few thoughts might cross our minds; the first thing is most likely Spring, while many might also think of Easter, and some minds may immediately go to the tinkling piano keys that herald beginning [...]

As I mentioned in Afternoon Commentary, the soybean market has now erased all the trauma of the last four year. As this continuous weekly chart of the nearby futures contract shows, before going off the board the November 2020 contract [...]

Those of you following along with Weekly Analysis will recall coffee is a commodity that turned bullish a couple weeks ago as both the nearby December and more actively traded March posted reversals on their respective weekly charts. A look [...]

I had a call come in Monday afternoon asking about a follow-up not only to my Dec-March post from early in the day, but the Dec-July Chart of the Day from Wednesday, November 11. It seems like more time has [...]

As you know, I've been keeping a close eye on the Dec-March corn spread for quite some time now. As an analyst, it's always intriguing when the fundamentals of a market closely follow technical patterns. That's what we've seen so [...]

To close out the trading week, I want to take a quick look at the Jan-March soybean futures spread daily chart. Here we see a Friday close of par ($0.00) as the spread completely erased the inverse of 25 cents [...]

A good friend reminded me of this week's strong move by December soybean oil this week, with the issue posting a new contract high of 37.32 Wednesday. Overnight trade into Fry-day morning saw the contract hit 37.29 despite daily stochastics [...]

I know it has been a corn filled last few weeks, but as we head home Thursday I want to draw your attention to this weekly chart for the December contract. After screaming to a new contract high of $4.28 [...]

One of the markets that doesn't get a lot of attention, usually, is copper. As I was watching CNBC Wednesday, an analyst came on talking about how he expects this industrial metal to rally to $3.30 on the outlook for [...]

Recent commercial selling has sparked increased in corn spreads, both individual (Dec-March, March-May, etc.) and as a whole (Dec-to-July forward curve). I've been talking a lot lately about the former, then had a call come in Wednesday asking about the [...]

I had a number of interesting conversations Tuesday, and as always, thanks to all of you for your interest and interaction. A gentleman called me later in the day and asked a simple question, "If you could choose one market...?" [...]

A good friend and I were visiting as the afternoon played out, and the rest of the analytical world tried to catch up with what we already knew about corn fundamentals. As we watched the corn market rally, the interesting [...]

I had a number of calls come in Monday afternoon with folks on the other end of the line wanting to talk about cattle. And rightfully so, given the $4.80 (3.5%) gain posted by Jan feeder cattle and the $3.00-plus [...]

A good friend sent me the message of the day early Monday morning, "Interesting week in a couple of hours". His thought was true then, and was even more so by the time things had started to wind down Monday [...]

A good friend quoted Thomas Dolby's famous song to me this morning while we were talking about the ripple effects of Pfizer's vaccine announcement on US stock market indexes. The phrase of the day has been, "It's a great day [...]

It's not out of the realm of possibility Friday sees a much more tentative session, in most sectors, based on the old adage that markets hate uncertainty. And with the US Presidential Election in limbo, and no resolution in sight [...]

For most of Thursday's session, December corn was bullish. It rallied to a high of $4.1725, up 12 cents from Wednesday's close, before falling back to settle at $4.0925. Yes, the contract was higher for the day, up 4 cents, [...]

A look at the daily chart for the February lean hogs tells us the contract is ready to fly higher, at least short-term. The contract posted a new 4-day high Wednesday, moving above the previous mark of $66.95 as it [...]

Stop me if you've heard this one before: The contract, having recent established a minor (short-term) downtrend, finds itself in a Wave B (second wave) rally that has retracted a large part of Wave A (first wave). Just as I [...]

Things are getting interesting on the daily chart for the January futures contract. Let me count the ways: The contract remains in a minor (short-term) downtrend, with the current upturn looking to be Wave B (second wave) of a 3-wave [...]

As I mentioned in both Morning and Afternoon Commentary Tuesday, I was paying attention to action in the Dec-March corn futures spread over the course of the day. While the spread itself is a short-term read on real fundamentals, from [...]

For a US dollar index ($DXY) bull like myself, the inability of the greenback to build an maintain bullish momentum is testing at times. Monday saw the $DXY pop to a new 4-day high of 94.28, only to fall back [...]

As I talked about in Afternoon Commentary Monday, wheat contracts were active over the course of the session. The December Kansas City contract posted the largest gain at the close, gaining 11.75 cents after falling as much as 5.75 cents [...]

One of the markets I spotlighted in Weekly Analysis this past weekend was January canola (see Oilseeds). In the analysis I talked about ow contracts had done something weird, not to the degree of WTI crude oil falling into negative [...]

As I mentioned in Afternoon Commentary, the January-March soybean futures spread broke down Friday, closing at an inverse of 8.25 cents and well below its previous low close of 9.75 cents inverse from October 19. This reflects the commercial side, [...]

I had a call come in Thursday afternoon, and we had the opportunity to visit about a number of different subjects. Of the two we spent the most time on, one was the path of the January feeder cattle contract. [...]

As I talked about in Afternoon Commentary, the January soybean contract is in position to establish a bearish key reversal on its weekly chart Friday. IF, that is, it takes out last week's low of $10.4825 overnight though Friday's close [...]

One of the first things I saw when I fired up the quote screen Thursday morning was a continued selloff in the energy complex. Knowing Wednesday's action had crude oil in position for a bearish move, I checked its continuous [...]

A look at the monthly chart for the S&P 500* gives us a great example of what I call the NBA Rule that says we only have to watch the last few minutes to get the flow of the game [...]

Cattle market bulls could be on pins and needles heading into Wednesday's open, given the sharp sell-off seen in most other commodity sectors. While the daily chart shows a potential move to a minor (short-term) uptrend, signaled by the bullish [...]

One of the many markets that look to have bought a ticket headed down(town) is soybean meal, at least for a short-term visit. Note the Dec contract posted a new high of $392.70 Tuesday before falling to a low of [...]

I fell behind a bit this morning, as I wanted to get this chart posted before the 8:30am (CT) livestock open. Going over all my daily charts, I noticed Dec lean hogs had posted a minor (short-term) bullish key reversal [...]

As I was running the traps on all my charts over the weekend, Dec T-Bonds jumped out at me following last Friday's activity. The contract fell to a new low for its secondary (intermediate-term) downtrend of 171-22 before closing higher [...]

As I mentioned in Morning Commentary Monday, the US dollar index ($DXY) looks to be in position to start firming again as indications are it has completed the Wave 2 selloff of its 5-wave secondary (intermediate-term) uptrend pattern. Recall from [...]

I had a question come in from a good friend Saturday morning asking about chart patterns for Dec and Feb live cattle heading into and coming out of the October Cattle on Feed report released Friday afternoon. On their individual [...]

Heading into Friday's session it seems a foregone conclusion the December lean hog contract will complete a bearish spike reversal on its weekly chart, confirming the previous 5-wave secondary (intermediate-term) uptrend has rolled over into a 3-wave downtrend. After posting [...]

It took a while, 2.25 years to be exact, but July 2021 Chicago wheat futures finally equaled its contract high of $6.25, basically. The initial mark was set the week of July 30, 2018, shortly after the 2021 issue started [...]

As I mentioned in Thursday's Morning Commentary, I had a call come in from a western Kansas wheat producer Wednesday evening. We talked about a number of things, including how he had recently finished planting his 2021 wheat crop, some [...]

As I mentioned in an earlier piece of analysis Wednesday (I don't remember which one), I'm continuously reminded of a cog train methodically chugging its way up a mountain. With that in mind, I've been asked a number of times [...]

I've had a number of questions come in regarding the weakness of the US dollar index ($DXY) of late. While I still see a major (long-term) uptrend on its monthly chart, there is no denying the $DXY continues to weaken. [...]

As I mentioned in Tuesday's Afternoon Commentary, both live and feeder cattle markets stampeded higher after selling off early in the day. The catalyst for the moved seemed to be the test of the $127.75 price target by the November [...]

Those of you in the hogs, either in the industry or trading, may have notice ringing in your ears that is growing louder early Tuesday morning. That sound is warning bells, tolling to get your attention as the Dec futures [...]

Both live and feeder cattle markets opened the week under heavy pressure from both commercial and noncommercial traders. The interesting part is, at least from a technical analysis perspective, is contracts of both markets followed their technical patterns well coming [...]

As I mentioned in Morning Commentary Monday, Dec corn looks to be dancing carefully near a minor (short-term) top, still looking as if it is in position for a dip on its daly chart. Note how the contract posted a [...]

"Overture, curtain, lights; This is it, the night of nights; No more rehearsing, and nursing a part; We know every part by heart." The stage is set, and the spotlight is turned up to 11, ready for November soybeans to [...]

There has been a great deal of activity in the Nov-Jan soybean spread of late, heightened by the approaching delivery period for the November issue at the end of this month. The CME website shows the effects of this week's [...]

Tuesday's early rally by the US dollar index ($DXY) is indicting the previous minor (short-term) downtrend is coming to an end and a new minor uptrend is beginning. However the initial move has been so strong, up 0.34 at this [...]

I had a number of questions come in about Dec corn, and as always, I appreciate the conversations. A look at the daily chart for the Dec 2020 contract shows what could be a minor (short-term) 2-day top, given last [...]

I had the opportunity to visit with a number of you today, and I appreciate the questions and conversations. One of these conversations turned to a discussion of the 2021 soybean contract, with the question being if additional sales should [...]

I had a question come in from a good friend via Twitter, asking my thoughts on March feeder cattle. What jumps out at me first is the clear secondary 3-wave secondary (intermediate-term) downtrend we've seen, with Wave C (third wave) [...]

I was visiting with a good friend about the Dec-Feb live cattle spread Monday morning, and we were in agreement things have gotten interesting since late September. Recall my September 25 post (Let's See What Happens) when I talked about [...]

Some of you may have seen this week's Kitco Gold Survey, with my friend Neils Christensen giving me a call earlier in the day to get my thoughts. You'll recall from Weekly Analysis last weekend that I still see a [...]

If it was any other market, at any other time, this daily chart would show me a clear minor bearish spike reversal confirming a move to a new short-term downtrend. Note how the contract/market spiked to a new high of [...]

I'm going to put the disclaimer to this analysis at the very beginning: I AM NOT SAYING THE CASH SOYBEAN MARKET IS TOPPING. Keep that in mind as we make our way through this analysis, because what I'm going to [...]

It's hard to believe only a week has gone by since I updated Monthly Analysis with some of the key markets I watch, including cash corn. But here we are, one week into October and the commodity sector has exploded [...]