The October lean hog contract got a lot more interesting Wednesday as it closed its daily $3.00 limit lower. As I talked about in this space Monday, the contract was in position to establish a Wave B (second wave) peak [...]

I had a question come in Tuesday evening about October feeder cattle. Before we get rolling though, I want to borrow a quote from a good friend who says about any market, but most recently feeder cattle, "New contract highs [...]

From a short-term technical point of view, October lean hogs got a bit tricky late last week. As we see on the contract's daily chart, Thursday saw Oct lean hogs post a bearish key reversal after moving to a new [...]

As I mentioned in Afternoon Commentary, September coffee had a big day Thursday, hitting a high of $1.9550 (per pound), up $19.50 (11.1%) for the day. Note this is the highest the nearby futures contract has been since November 2014. Solid [...]

As I mentioned in Morning Commentary, the major (long-term) downtrend by the Canadian dollar (loonie) has gained momentum in July. This past Monday saw the loonie hit a low of 0.78101, easily falling below its previous 4-month low of 0.78483 [...]

I just had a question come in asking about the monthly chart of the US 30-Year T-Bond (ZB) market. As always, I appreciate you taking the time to send in questions. Let's take a look at the chart: July has [...]

A friend called in late last week and wanted to talk about the S&P 500. First, I always enjoy conversations outside the ag markets and second, my friend was thinking the S&P 500 was nearing a top. To add the [...]

As I mentioned in Monday's Morning Commentary, there are a number of interesting technical patterns, signals, and indicators on this weekly chart for November soybeans, all pointing to the fact the song remains unchanged for the contract: It's in a [...]

I had a great question come in Tuesday afternoon. My friend asked, "What could the live cattle contract see first, $140 or $120?" These are always fun questions to address, particularly when the market is in a consolidation phase like [...]

I had a question come in regarding October feeder cattle, wondering if the contract was in the process of establishing a minor (short-term) top. A look at its daily chart certainly seems to confirm this idea, with the contract posting [...]

As I mentioned in Tuesday's Afternoon Commentary, we could soon be waving goodbye to $13 November soybeans as the contract looks to be be in Wave C (third wave) of its secondary (intermediate-term) 3-wave downtrend. Wave B (second wave) looks [...]

It has been a while since my last coffee market update, and it is highly unlikely we will need the caffeine jolt to stay awake Friday, but Thursday's session brought the September coffee contract back into the spotlight. Sept coffee [...]

As I mentioned in Morning Commentary, OPEC and OPEC+ are meeting Thursday to discuss and decide on possible crude oil output increases. The general consensus, as of this morning, is any output hikes would be "tactical", as the Cartel looks [...]

I've seen a good deal of chatter about the downfall of the lumber market, so I thought it would make for an interesting reprieve from the nonstop noise about USDA reports. A look at the weekly chart for the September [...]

August lean hogs confirmed a new minor (short-term) uptrend Tuesday as the contract took out its previous 4-day high of $103.075. The contract climbed to $104.175 before closing at $103.625, up $0.85 for the day, after closing the daily limit [...]

Sometimes there is a disagreement between what the human eye sees on a chart and what the algorithm reads the situation to be. Such is the case Thursday evening on December corn's daily chart, with my human eye seeing a [...]

At this point, I'm fairly certain all of you have become experts at spotting the different topping patterns on a wide variety of charts. Early Monday a good friend sent me the message, "Dec live cattle weekly chart :)", followed [...]

As the US dollar index rallied Thursday, the euro was on the flip side of the coin (literally) as it extended the ongoing secondary (intermediate-term) downtrend on its weekly chart. This week's move to a new 4-week low confirms the [...]

A key takeaway from the recent breakdown in the commodity sector is it highlights the value of The Goldilocks Principle (daily charts are too hot, monthly charts are too cold, but weekly charts are just right). Secondary (intermediate-term) patterns on [...]

The US dollar index (USDX) liked what it heard in Wednesday's Federal Open Market Committee meeting announcement, particularly the parts about the exceptions for increased inflations and projection for more than one interest rate increase by 2023. Yes, that's a [...]

As I mentioned in Wednesday's Morning Commentary, all the pieces are in place for the cmdty National Hard Red Spring Wheat Price Index (HSPI, weighted national average cash price) to run away from the cmdty National Hard Red Winter Wheat [...]

Another of the commodity markets getting a lot of attention on financial television is lumber. The market reporters, some who were talking about the bearishness of lumber's inverse a few weeks ago, were talking about how lumber should continue to [...]

If we are looking for signs as to what the US Federal Open Market Committee (The Fed) is going to say at the conclusion of this week's 2-day meeting, the key 10-year T-note futures market (ZN) is as clear as [...]

As I mentioned in Afternoon Commentary, the July-September Kansas City (HRW) wheat spread closed at 8.25 cents carry Monday, putting the spread on the threshold of a couple important changes. Technically, the 8.25 cents level equals the previous low from [...]

The meltdown in the grain and oilseed complex Sunday evening through Monday morning was brutal with nearly every contract of every market heading into intermission near its overnight session low. However, in the case of July soybean meal, this could [...]

As we head down the homestretch of another week, new-crop December corn is giving us mixed signals. A look at its weekly chart shows this rally to be a Wave B (second wave) move of the 3-wave secondary (intermediate-term) downtrend [...]

As I've mentioned a couple times over the course of this week, the new-crop September Minneapolis (HRS) wheat contract has been as good an example of a weather market as we've seen in quite some time. The issue posted a [...]

Good morning everyone. I wanted to take a moment before Morning Commentary to update you on December corn's daily chart. Tuesday's close led to a bearish crossover by daily stochastics, a signal the minor (short-term) trend could be set to [...]

I had a question come in Monday afternoon asking about October feeder cattle. With the rest of the ag sector blowing up in some way, shape, or form I put this post on hold until early this morning. I started [...]

When trying to describe Monday's activity by new-crop September Minneapolis (HRS) wheat, the best I could come up with was "It was something." I don't really know what to call it, though from a technical point of view the daily [...]

If we want to take our eyes of the new-crop corn, soybean, and spring wheat markets for the briefest of moments there is another market that looks to have established a top on its weekly chart, indicating its secondary (intermediate-term) [...]

As I retweeted Saturday morning, my friend Neils Christensen of Kitco News included my analysis in his latest weekly poll on the price direction of gold. I was on the fence, with my conclusion of bearish, bullish, or neutral based [...]

As I mentioned in Friday's Morning Commentary, the US dollar index was back in the green to start the day, but then the May jobs numbers were released at 7:30 (CT). The official tally was 559,000 new jobs and an [...]

There's an old technical analyst saying of, "Support becomes resistance", of the converse, "Resistance becomes support". I being an old technical analyst, will use the second iteration of that sentiment in the analysis of the daily close-only chart for the [...]

As its daily chart shows, August gold has come under increased pressure over the course of Thursday morning, so much so it easily blew through its previous 4-day low of $1,884.30 (dashed red line). This confirms a move to a [...]

As I mentioned in Wednesday's Afternoon Commentary, December corn's minor (short-term) uptrend continues to bang its head against the technical target near $5.8550. This price marks the 61.8% retracement level of the previous minor downtrend from the contract high of [...]

I got a bit sidetracked Wednesday morning, as I wanted to have this daily chart of the August-October futures spread posted before the open. However, early activity has made it that much more interesting. I want to highlight the spread [...]

As I talked about in Tuesday's Morning Commentary, the weekend news of the world's largest meat producer, JBS, coming under cyberattack had a bearish effect on the live cattle futures market. Contracts posted a strong selloff on the open, with [...]

Consider this post a follow-up to Thursday morning's Chart of the Day, "Some Days are Diamonds"*, when I talked about the potential diamond top formation on the August live cattle daily chart. We did not get confirmation Thursday, but it [...]

Friday is a lot of things: The end of the week Last trading day of the month of May End of the quarter for corn, soybeans, and wheat And the end of the 2020-2021 marketing year in the wheat comple [...]

We've seen a number of different types of reversals the last few days in a variety of markets, the most recent being Thursday's new 4-day high posted by November soybeans. This followed what was almost a bullish spike reversal Wednesday, [...]

The last year has seen discussion about the commodity sector dominated by grains and oilseeds, lean hogs, crude oil, copper, and most recently lumber. For the most part, the  coffee market has flown under the radar despite posting a strong [...]

One of the best parts of this job is being challenged by questions all of you ask. Wednesday was another good example when a friend sent me a message asking, "Is that a diamond top on the August live cattle [...]

After posting two Charts of the Day Wednesday morning, I thought it best to close out the day with an update of both December corn and October feeder cattle. December Corn After hitting a low of $5.0025 Wednesday, extending its [...]

The reversal in December corn (as well as a number of other grain and oilseed contracts) has been remarkable, putting new-crop corn in position for an actual technical reversal on its daily chart. Dec corn initially fell to a low [...]

I had a question come in Tuesday about October feeder cattle. My friend was wondering if the contract was a sell, and a look at the contract's daily chart suggests it could be getting close. The recent minor (short-term) uptrend [...]

I mentioned in Afternoon Commentary that November soybeans lost 5.5 cents to July, cutting the inverse in the new-crop forward curve to 21.25 cents, its weakest increase since a weekly close of 17.5 cents the week of March 22. However, [...]

As I mentioned in Tuesday's Morning Commentary, it has been a wild ride in the new-crop Minneapolis (HRS) September-December futures spread lately. A quick recap shows a close of 6.75 cents carry on May 19, a close of 3.25 cents [...]

The November soybean contract posted an interesting session Monday, falling as much as 19.5 cents to a low of $13.41 before rallying to close 1.75 cents higher at $13.6225. However, as I mentioned in Afternoon Commentary most of the support [...]

It's that time of year when when every move made by the December corn contract is scrutinized down to the finest detail. Given that, and setting aside the Goldilocks Principle for now, I'm putting the contract under the microscope to [...]

I've had the opportunity to visit with a gentleman from central Nebraska who is in the cattle industry, and less than thrilled with had he continues to see. Last Friday we were talking about the price relationship between cash cattle [...]

My friend Neils Christensen of Kitco News was kind enough to include my analysis in his weekly gold outlook piece again last week, so I wanted to follow it up with a look at the June gold charts I was [...]

Good morning everyone. I mentioned in Thursday afternoon's Chart of the Day how crude oil was a new battleground for technical bears and fundamentals bulls, but lean hogs offers yet another market where the same thing could play out. In [...]

There was a great deal of discussion about WTI crude oil on CNBC Thursday afternoon, as hosts and analysts debated the same issues I see at play in the market as well. Recall from latest Weekly Column, "Everything is Transitory", [...]

As you likely know by now, I have CNBC running here in the basement office of Darin Newsom Analysis, Inc. all day. It always grabs my attention when the hosts, most of them more familiar with stocks, bonds, currencies, etc., [...]

An old acquaintance, a dyed in the wool market fundamentalist, used to call technical analysis the study of "magic lines". We went back and forth on this for years, usually in good fun, as I spent an equal amount of [...]

As I talked about in Monday's Chart of the Day, August feeder cattle initially extended its minor (short-term) uptrend Tuesday, taking out Monday's high of $153.075 on its way to a peak of $153.375. However, this was immediately followed by [...]

If you look closely at this December corn daily chart, and set aside the Goldilocks Principle (Daily charts are too hot, monthly charts are too cold, but weekly charts are just right) for the time being, we can see what [...]

August feeder cattle posted a solid rally Monday, hitting a high of $153.075 before closing at $152.75, up $1.60 for the day. Support came from both noncommercial and commercial traders, the latter indicated by August gaining $0.05 onSeptember and $0.30 [...]

As I mentioned in Friday's Morning Commentary, December corn saw initial follow-through selling overnight, enough to push the contract to a low of $5.4950. This was a test of the next technical target of $5.4375, a price marking the 50% [...]

As I mentioned in Thursday's Afternoon Commentary, the Nov21-to-July22 futures spread is getting extremely volatile. After bottoming at a low of a 23-cent inverse on April 29  the spread quickly climbed to an initial high of 59 cents inverse on [...]

Pardon me for the wordplay I used as the title of this Chart of the Day, but it was too catchy to pass up. As I mentioned in Morning Commentary, the July Kansas City (HRW) wheat contract is indeed in [...]

I had a gentleman ask about July corn following Wednesday's generally lackluster session. Let's take a look at it from both points of view: Fundamentally, old-crop corn remains bullish. National average basis remains strong, with Tuesday's calculation of the cmdty [...]

As we head toward the next market disruptor, also known as the monthly USDA Supply and Demand report (set for release at 11 CT Wednesday), we need to keep a close eye on new-crop December corn. After posting a new [...]

The recent minor (short-term) uptrend posted by August live cattle has been almost picture perfect. The first part of the move saw the contract rally from its low of $115.925 (April 22) to test the initial upside target near $119.20, [...]

Well now, this is an interesting development. Take a close look at this daily chart for July lumber. We saw a string of limit up days, 8 counting Monday and 11 out of the last 13 sessions in total. And [...]

As I talked about in Thursday's Afternoon Commentary, the 2021-2022 corn market forward curve inched into a small inverse, for the most part, at the close. What is a forward curve, you ask? Great question. A forward curve plots the [...]

As we head into Thursday's session, we need to be aware of the latest developments in the June-August lean hog futures spread. Note Wednesday's close was $4.625, while down $0.425 for the day still almost $5.00 above the previous 4-year [...]

I had a question come in asking about the tradability of the July-Dec corn futures spread. It's a great question, as it fits with what I was talking about in my latest Weekly Column, "The Fine Line Between Equilibrium and [...]

Given the skyrocketing corn market and free falling feeder cattle, I've had a few questions about Dec live cattle come in. Taking a look at the contract's weekly chart, the starting point is a bearish crossover by weekly stochastics above [...]

Though it seems like it has been longer, but my most recent Chart of the Day post on June lean hogs was just last Thursday (April 29). At the time I talked about how the contract was approaching a fork [...]

Some of you new to this site are likely unfamiliar with what I call the Goldilocks Principle, "Daily charts are too hot, monthly charts are too cold, but weekly charts are just right." Over this past weekend I posted my [...]

I just sent in my weekly Kitco Gold Poll vote on direction of the market next week, and based on what I see on this daily chart for the June contract, I still see some downside potential. I still classify [...]

This time of year, new-crop December cotton often gets lost in the shuffle of the new-crop grain markets of corn, soybeans, and spring wheat. However, Dec cotton has been following its trend patterns relatively well after posting a bearish key [...]

This will be a quick post: Keep a close eye on Dec Corn as it sits near its previous 4-day low of $5.3725 heading into Thursday's session. Recall the contract has already posted a bearish spike reversal on its daily [...]

Yogi Berra is quoted as saying, "When you come to the fork in the road...take it." As I mentioned in Morning Commentary, June lean hogs might just take Mr. Berra's advice Thursday as it approaches a fork in the road [...]

There are a lot of contracts posting a lot of technical patterns to talk about Wednesday morning, but none are more interesting than what we see on the daily chart for November soybeans. Yes, Nov beans posted a bearish spike [...]

I'm pushing Morning Commentary back a few more minutes be3cause I want to get this look at the daily chart for new-crop December corn posted. Tuesday saw the contract post a clear bearish spike reversal, with Dec corn closing lower [...]

They are a common pest this time of year, usually coming out in late and staying around until late September when they go back into hibernation. They make a lot of noise, a lot of noise, and like to be [...]

Here's my train of thought when I looked at the May-July corn futures spread Tuesday morning: An incredible short-squeeze going on in the old-crop market. A short-squeeze in corn = Corn Squeezins Corn Squeezins = Whew, White Lightning A look [...]

While the lean hog market remains fundamentally bullish, as indicated by both the June-August and August-October futures spreads, the technical picture for June lean hogs still looks bearish. Recall from a couple weeks ago the contract posted a bearish key [...]

My friend Neils Christensen runs the weekly gold poll for Kitco News, and was kind enough to include my thoughts again this week. In it I said, "June gold's short-term trend looks to have turned down following a bearish 2-day [...]

Heading into Friday's session, the 2021 June-August live cattle spread (green line) is in position to post a bearish weekly close. It's previous low weekly settlement was (-$0.75) from the week of January 11, with this Thursday's close putting the [...]

As I mentioned in Thursday's Afternoon Commentary, the feeder cattle market had a rough day. The May contract closed $2.575 lower and August dropped as much as $4.825 before closing down "only" $3.55 for the day. Pressure came from both [...]

As I turned my attention back to the crude oil market Thursday morning, the first thing that came to my mind was the opening line from the Jethro Tull song "Locomotive Breath": In the shuffling madness...of the locomotive breath." As [...]

The Canadian dollar (loonie) posted a big range Wednesday, hitting a low of 0.79035 before rocketing to a high of 0.80248 and sitting just under 0.80 late in the afternoon. On the daily chart this creates a bullish outside range [...]

As I mentioned in Tuesday's Afternoon Commentary, both May and July lumber contracts closed the expanded limit of $48 (per 1,000 board feet) down after closing the then limit $32 up to start the week. And though it is only [...]

I was visiting with a good friend about the cattle market Monday, and one of the contract's that grabbed our attention was June live cattle. After falling as much as $1.625 right out of the gate, hitting a low of [...]

I had a simple, yet interesting message come in Monday, "Lean hogs just don't give up." He has a point, with a look at Monday's activity in June lean hogs showing us a strong rally of $3.675 at its peak [...]

As I mentioned in Monday's Morning Commentary, the US dollar index made a loud crashing sound as it fell through previous lows and technical targets overnight. The greenback hit a low of 91.03 early Monday morning, down 0.50 from last [...]

I had a question come in Thursday night, wondering if "is it still okay to be long hogs?" There are two ways to answer: Fundamentally and Technically. Fundamentally the June contract remains incredibly bullish, almost unfathomably so as the June-August spread [...]

At first glance the euro looks like it established a bearish spike reversal on its daily chart Thursday, coinciding with a bearish crossover by daily stochastics above the overbought level of 80%. This combination tends to both signal and confirm [...]

After posting the look at May feeder cattle Thursday morning, a good friend from Kansas wondered about the pattern in October feeders. Truth be told, it was a toss-up this morning as to which I would post, and I went [...]

I had a question come in about May feeder cattle Wednesday afternoon. The contract is in a minor (short-term) downtrend, though where it might decide to bottom is a bit less certain. Let's start at the beginning: March 30 saw [...]

The new-crop July Kansas City (HRW) contract has hit the accelerator on its minor (short-term) uptrend of late, enveloped in a cloud of smoke as it squeals its tires and launches itself toward the next upside targets (Can you tell [...]

As you could tell from Tuesday's Afternoon Commentary ("Livestock Steals the Spotlight"), I spent a lot of time over the closure of the day watching the livestock sector. One of the contracts that stands out to me is June live [...]

I have some friends in the lumber industry, and after mentioning the rocketing market in Monday's Afternoon Commentary I wanted to follow-up with a look at the continuous weekly chart for the nearby futures contract. Monday saw May futures lock [...]

I know I've talked a lot about June lean hogs of late, usually concluding with something like "the contract remains a Type 9 market, the most bullish type...". However, after Monday's session, we need to be careful that this contract [...]

A gentleman who is still holding some unhedged 2020 was soybeans touched base with me last Friday, wanting to know what the best strategy might be going forward. After congratulating him on his good position, I took a look at [...]

As I mentioned in Friday's Afternoon Commentary, the May-July soybean spread broke through support at the 5.25-cent inverse level (gold line), closing at 4.75 cents inverse. This was the weakest the inverse in the spread has been since December 18, [...]

I know, there are many in the industry on the verge of wetting themselves in anticipation of the latest round of monthly USDA Supply and Demand reports. But the reality is these same folks wouldn't go through so many adult [...]

As we move into the last half-hour or trade Thursday, May feeder cattle are in position to establish a bearish outside range. This would indicate the contract could come under pressure over the coming days, either rejoining or beginning a [...]

After I mentioned its slightly lower start to the day in Morning Commentary, the euro has posted a modest rally through early Thursday morning. Note Wednesday's high of 1.19144 was a test of the initial minor (short-term) upside target of [...]

It has been a while since I posted a look at the new-crop September Minneapolis (HRS) wheat weekly chart. The contract has been in a secondary (intermediate-term) downtrend since posting a bearish spike reversal (there's that pattern again) the week [...]

As we head into Wednesday's session for the livestock session (with no overnight trade), there are a number of interest market factors to track. One of the major items to watch is the possible topping pattern on the June Lean [...]

It seems I've been spending a lot of time talking about spikes recently, so much so if I was a sports commentator one would think it was volleyball season. the US 30-year T-bond futures is another example, though this time [...]

As Tuesday's session gets under way, one of the keys could be action in the May-July corn futures spread. After posting a low daily close of 14.0 cents inverse on March 25, the spread rallied to close at 16.75 cents [...]

The US dollar index (USDX) has seen follow-through selling from its bearish spike reversal posted Wednesday, March 31. Note that was the day the USDX hit a high of 93.43 before closing at 93.20, down 0.03 from Tuesday's settlement. The [...]

We need to keep a close eye on feeder cattle market this week after contract posted a familiar topping pattern last week. A look at this weekly chart for the more active May issue shows a new contract high of [...]

Some of you may be old enough to remember Saturday morning cartoons, with the highlight being Bugs Bunny, Daffy Duck, Yosemite Sam, and the rest of the gang. Like the comic section in Sunday's paper, Saturday morning cartoons are mostly [...]

I want to correct a couple things from Afternoon Commentary: The May-July soybean spread closed at an inverse of 5.25 cents (I think I said 5.75 cents earlier), the lowest close since the same mark was posted on December 22, [...]

...shame on me. Fool me a half-dozen times, you must be wheat. Well, here we go again. Wednesday saw the July Kansas City wheat contract post another minor (short-term) bullish spike reversal on its daily chart, this time a key [...]

Though corn futures, from old-crop May through new-crop July 2022, closed the daily limit 25 cents higher Wednesday, the cmdty National Corn Basis Index (NCBI, weighted national average) was able to "break on through to the other side" when calculated [...]

From a technical point of view, Wednesday could be interesting for the new-crop December corn contract. A look at its daily chart shows us the break of support at the previous 4-week low of $4.63 (dashed red line, last Friday's [...]

As I mentioned in Tuesday's Afternoon Commentary, November soybeans took out support at its previous 4-week low of $12.0225. This confirmed the secondary (intermediate-term) downtrend first signaled by the most recent bearish crossover by weekly stochastics above the overbought level [...]

June live cattle continues to defy logic and gravity as it posted a new contract high of $123.50 Monday. This was up $0.875 from last Friday's close, with support tied to both noncommercial and commercial traders. The continued buying remains [...]

A couple weeks ago I posted a look at the May-July soybean spread as it looked to be in the midst of a 3-wave downtrend on its daily close-only chart. However, as the last two weeks have played out we've [...]

The June lean hog contract is so fundamentally bullish, it is starting to leave gaps on a regular basis. The previous one occurred the morning of March 16 as the contract opened at $99.65, well above the previous day's high [...]

As I mentioned in the audio edition of my latest Weekly Column, "Forward Thinking", the key word as we head into this coming week continues to be "bullish". I'm specifically talking about old-crop and new-crop supply and demand for the [...]

I know all the hubbub and hullabaloo surrounding USDA's Prospective Plantings report next week will grow louder over the weekend, but if most folks simply turned off the noise and listened to what the market was telling us this week [...]

New-crop December corn took a look over the edge early Friday morning into a deep, dark, bearish canyon. The contract posted a session low of $4.63, mere fractions away from support at its previous 4-week low of $4.6275. Recall from [...]

The more I added to this July corn weekly chart Thursday afternoon, the more a work of art it became. Note how the contract has been consolidating within the price range posted the week of February 8, between the contract [...]

June live cattle are a real puzzler. Fundamentally the June-August futures spread looks poised to turn more bearish given Wednesday's close of $0.55 as compared to last week's $0.90 and the previous 5-year average for this week of $1.75. I've [...]

I could've gone a number of directions with Wednesday afternoon's Chart of the Day, but chose sideways, as in the sharp rally by the crude oil market due to the container ship getting stuck sideways in the Suez Canal earlier [...]

As I mentioned in Wednesday's Morning Commentary, one of the key markets I'll be watching as the day progresses is the new-crop Dec-March futures spread. Since posting its high of 3.75 cents carry on three consecutive days from November 18-20, [...]

As I mentioned in this past weekend's Weekly Analysis, the July crude oil contract had not yet established confirmation of a new secondary (intermediate-term) downtrend on its weekly chart. However, it did just that during Tuesday's sharp selloff as it [...]

The last week is another good example of why I follow the Goldilocks Principle (Daily charts are too hot, monthly charts are too cold, but weekly charts are just right). As I thumbed through the Charts archive I found what [...]

As mentioned in a Quick Take Monday morning, the euro posted a bullish outside range on its daily chart to start the week indicating the end of Wave 2 and beginning of Wave 3 of its 5-wave minor (short-term) uptrend [...]

As you can see I've zeroed in on short-term patterns only on this June lean hog daily chart, starting with the bearish key reversal posted last Thursday. Then we saw June lean hogs post a new contract high of $102.50 [...]

As I mentioned in Friday's Afternoon Commentary, most of cattle contracts posted some form of bearish reversal pattern on their respective weekly charts at the close. One of the more noteworthy was the key reversal in May feeder cattle. After [...]

As I mentioned in Morning Commentary, there are a number of markets looking to post some sort of reversal on their weekly charts Friday. The most dramatic could be RBOB gasoline given its move early in the week to a [...]

As mentioned in Thursday's Afternoon Commentary, June live cattle had an interesting day. After posting a new contract high of $122.70 and failing to spark strong buying interest, June started to fall. First it took out Wednesday's low of $120.625, [...]

I've been asked to participate in a market panel discussion next week as part of the Grain Farmers of Ontario March Classic*. I'll be joining some friends with the panel hosted by Tyne Morgan of the US Farm Report, one [...]

As mentioned in Afternoon Commentary, the US dollar index came under pressure Wednesday with many attributing the selling to the US Federal Reserve standing pat on interest rates, holding the Fed Fund in that gray area between 0.00% and 0.25%. [...]

As I mentioned in Wednesday's Morning Commentary, the new-crop December 21-March 22 futures spread quietly closed Tuesday at 8 cents carry, slipping below support on its daily close-only chart at 7.75 cents. The spread posted a string of closes at [...]

You may have to break out the magnifying glass for this one, but a close inspection shows the new-crop July Kansas City (HRW) wheat contract established a bullish spike reversal on its daily chart. This pattern confirms the bullish crossover [...]

Tuesday could be a key day in the life of the June 2021 lean hog futures contract, at least short-term. Friday's session saw the contract sneak in a bearish spike reversal as it hit a new high of $99.40 before [...]

The short-term uptrend in June live cattle has gone about as far as it can without altering the view on the contract's intermediate-term weekly chart. As I talked about a week or so ago this ongoing minor uptrend has resulted [...]

The much watched May-July soybean futures spread finished the overnight session at an inverse of 9.5 cents, below support at the previous set of lows at 10.25 cents inverse (February 25 and March 1). If we see something similar at [...]

...that is the question. As I mentioned in Afternoon Commentary, December 2021 corn completed a bearish spike reversal pattern on its weekly chart, inc conjunction with a bearish crossover by weekly stochastics above the overbought level of 80%. This combination [...]

The June live cattle contract remains in its minor (short-term) 5-wave uptrend, and is in position to extend Wave 5 as we head into the weekend Friday. Wave 3 peaked at $119.875 Tuesday, March 9 leading to a short-lived Wave [...]

As I mentioned in Thursday's Afternoon Commentary, with all the focus on the old-corp soybean market the new-crop November-January futures spread has been flying under the radar. And not just that, but it has been losing altitude along the way [...]

One of the most watched, and heaviest traded, futures contracts in the industry is the US 10-year T-note. As of early Thursday morning, the June contract is showing open interest of 3,647,918 contracts and trade volume (as of 5am CT) [...]

As I mentioned in Wednesday's Afternoon Commentary, the May-July contract futures spread looks to have confirmed it is in Wave C (third wave) of the 3-wave downtrend pattern on its daily close only chart. Wednesday's close of 9.75 cents inverse [...]

As I mentioned in Wednesday's Morning Commentary, the US dollar index looks to have established a bearish 2-day reversal/spike reversal on its daily chart, confirming its minor (short-term) trend is turning down. This pattern confirms the bearish crossover by daily [...]

As I talked about in the morning Chart of the Day from March 1, "December Cotton: Following the Rules", the contract posted a bearish key reversal on its weekly chart the week of February 22. Usually, this would be viewed [...]

As I talked about with my friend Neils Christensen from Kitco News with his gold poll last week, the April futures contract seemed to be nearing the end of of its secondary (intermediate-term) downtrend. The contract closed last week at [...]

As I talked about in Weekly Analysis: Livestock earlier Monday, April live cattle remain in a secondary (intermediate-term) 3-wave downtrend on its weekly chart. However, a look at the contract's daily chart shows it is nearing a possibly turn to [...]

As I mentioned in Monday's Morning Commentary, overnight activity in November soybeans opened the door to a number of potential technical patterns this week. Leading off is the contract's low of $12.4825 as compared to last week's high of $12.48. [...]

As I mentioned in Friday afternoon's Chart of the Day, "(GF) Go Figure", the August feeder cattle contract posted a new 4-week high and contract high last week indicating it could find more room to the upside over the coming [...]