As I mentioned in Wednesday's Morning Commentary a characteristic, quirk if you will, of the wheat market (any of the wheat markets) is the tendency to post head fakes. A head fake is a false technical signal that theoretically could [...]

As I mentioned in Tuesday's Morning Commentary, the US dollar index ($DXY) extended its minor (short-term) downtrend to a low of 93.50. This move began with the completion of a bearish 2-day reversal on Wednesday, October 13. The short-term downside [...]

The feeder cattle market has seen a bearish breakdown early Monday, and from a technical point of view this indicates contracts are moving into Wave C (third wave) of ongoing 3-wave secondary (intermediate-term) downtrends. Recent minor (short-term) uptrends look to [...]

As I mentioned in Thursday's Morning Commentary, the US dollar index ($DXY) is in position to establish a bearish reversal pattern on its weekly chart. Early this week saw the $DXY hit a high of 94.56, taking out last week's [...]

I had a request come in Tuesday evening to take a look at this weekly chart for December 30-year US T-bond futures (ZBZ21). Those of you who have been with me for a while likely see the same technical patterns [...]

A week ago I talked about how the December lean hog contract was in position to possibly post an island top on its daily chart (see "No Hog Is an Island" from October 5). All that was needed was a [...]

As I mentioned in last Friday's Afternoon Commentary, "To a Mouse", the best laid plans of November soybeans indeed went awry. After failing to complete the bullish spike reversal on its weekly chart, a move that would've confirmed its seasonal [...]

As you likely recall, I spent some time this past week talking about the possibility soybean futures and the cmdty National Soybean Price Index[i] could post bullish spike reversals[ii] on their respective weekly charts. Then, as Friday played out, the [...]

Since October is the month of Halloween, and next week sees the release of yet another movie of the same name (I think it’s the 12th in the franchise), I thought I’d take a moment to talk about the scariest [...]

I had a request come in to take a look at November feeder cattle, and as always I thank all of you for participating in this website. The last time I talked about November feeders I was looking at its [...]

As I mentioned in Wednesday's Morning Commentary, we need to keep a close eye on the new-crop July Kansas City (HRW) contract as this week progresses. July KC posted a new contract high of $7.52 Monday before falling back to [...]

As I mentioned in Quick Takes Tuesday Morning ("Morning in the Barn"), the December lean hog futures contract had the potential to establish an island top pattern on its daily chart. After gapping higher both September 27 and September 30, [...]

I know I mentioned an updated look at November soybeans in a Chart of the Day Monday, but I want to bring your attention to December soybean meal as it spends a lot of time in the shadow of soybeans. [...]

As I was putting together the Seasonal Analysis for November soybean futures and the cmdty National Soybean Price Index (NSPI, weighted national average cash price) Sunday morning, I was intrigued by this weekly chart for the NSPI. While the major [...]

I've had a lot of discussions about soybeans the last 18 hours. A lot of discussions. And the bottom line is, despite USDA's obviously wrong quarterly stocks number of 256 mb, the structure of November soybeans has not changed. Let's [...]

It seems every market gets its chance to post a nearly vertical rally, with the latest being December cotton. A shared characteristic of most of these markets, excluding natural gas, is inverted futures spreads indicating fundamentals are incredibly bullish. At [...]

As I mentioned in Wednesday's Afternoon Commentary, it was quite a day for the US dollar index and the euro. The dollar extended its intermediate-term uptrend to a 94.43, the highest it has been since the week of September 28, [...]

I had a request come if for a look at either November or January feeder cattle, and with Nov the more heavily traded issue I'm going with that one this morning. A side note, the daily charts of the two [...]

The December lean hog contract is flying high this week, opening $3.00 higher and never looking back. Through roughly the first hour of trade this week the issue has extended its gain to $4.575 on solid trade volume of nearly [...]

As I mentioned in Morning Commentary, the S&P 500 ($INX) index has been busy posting technical signals the last few weeks, leading up to what is now expected to be a major bearish key reversal on its long-term monthly chart. [...]

One of the movies I remember watching as a kid is John Wayne's "The Cowboys". It's a good movie, notable for turning Bruce Dern into an actor who would never be able to play a good guy the rest of [...]

I've been keeping a close eye on the US dollar index and euro Monday, with both in position to possibly establish spike reversals at the close. In the case of the USDX, a close below Friday's settlement of 93.19 would [...]

As I mentioned in Friday's Morning Commentary the new-crop July Kansas City (HRW) wheat contract could establish a bearish technical signal, if not a reversal pattern by the time the closing bell rings. Let's start with the signal: If the [...]

We need to keep a close eye on the November feeder cattle contract as it is in position to post a bullish spike reversal Thursday, a move that would confirm a new minor (short-term) uptrend is underway. Daily stochastics established [...]

The December corn contract was impressive Wednesday as it blew through its previous 4-day high of $5.24 on its way to a session high of $5.3450. This was a test of its initial upside target of $5.3425, the 38.2% retracement [...]

The live cattle market continues to hold our attention, with the more heavily traded December issue seemingly making bigger moves every day. Monday saw the contract fall to a new minor (short-term) low of $125.675 before rallying to close at [...]

It's Friday afternoon, of a USDA report day, the tie has been loosened (yes, I try to wear a tie most days), and the first libation of the weekend has been poured. It's now time to recap all that happened, [...]

The December lean hog contract looks to be skating on thin ice as we head into Friday's session. This week's selloff has the contract in position for a bearish breakout of its consolidation pattern that began after the contract high [...]

One of the most closely watched markets in this part of the world is December corn, and as we head toward Thursday's close, and the USDA set of monthly reports set for release Friday, the contract is in position to [...]

I spent a great deal of time watching the live cattle market Wednesday afternoon, after a friend and I discussed some of the bullish reversal patterns possible on the daily chart for the December contract. With about 2 hours left [...]

As I've recently mentioned, we need to keep a close eye on the new-crop July Kansas City (HRW) contract as it gets close to establishing a seasonal top on its weekly chart. Planting season is growing large on the horizon [...]

December corn looks to be nearing the end of its secondary (intermediate-term) downtrend, though it still has time and space to move lower. The contract hit a low of $5.1025 Tuesday, setting the stage for a possible break of the [...]

Despite its volatile nature in general, another aspect of the soybean market has accomplished its mission and finished off a technical pattern. This morning I'm looking at the November-July futures spread, used as a proxy for studying the trend of [...]

I had a request come in for a look at the weekly chart for December live cattle. As always, thank you folks for taking the time to stay in touch. That being said, December live cattle are inconclusive heading into [...]

As you likely recall, Newsom's Rule #7 states, "Stock markets go up over time." With that in mind, it's interesting to note the S&P 500 closed higher for the seventh consecutive month as August came to to an end, extending [...]

The October lean hog futures contract continues to move sideways, leaving a series of bullish and bearish technical patterns along the way. Most recently, the contract posted a bearish reversal the week of July 26, a move looked at the [...]

I've adjusted this weekly close-only study to show the 2021 August-October live cattle spread (green line) through last Friday's settlement, the last full week for the August futures contract. The spread plummeted last week to close at (-$7.125), far below [...]

One of the markets I always watch during a hurricane is random lumber futures, in this case the November contract. One of my favorite lumber stories is from a long time ago in a galaxy far, far away when a [...]

As I mentioned, things are expected to get interesting in the December Chicago (SRW) wheat contract to close out the week. The overnight session through Friday's intermission saw the contract equal its previous 4-day high of $7.45 (red dashed line), [...]

Uptrend or downtrend? Bullish or bearish? It's all up for debate when talking about the December-July corn futures spread (used as a proxy to study the trend of the 2021-2022 forward curve), particularly when we apply both the Goldilocks Principle [...]

As I just talked about in my most recent Weekly Column ("Hillary, Walter, and John"), there isn't much that makes sense about the live cattle market at this point. In fact we could say the plot is as convoluted as [...]

I had a question come in Monday about December live cattle, and if it might be topping. At this point it is impossible to tell given the contract posted a new high of $137.375 and is in position to possibly [...]

I'll say this for the soybean market, despite its volatility and wild mood swings it does a good job of following its technical signals. Usually. At least in the case of the November-January futures spread. Those of you who have [...]

As I mentioned in Thursday's Afternoon Commentary, the November soybean contract is on the threshold of posting a bearish outside range on its weekly chart. This week has seen the contract take out last week's high of $13.6950 as it [...]

Something else I mentioned in Tuesday's Afternoon Commentary was the minor (short-term) bearish key reversal on the daily chart for November soybeans. Tuesday saw the contract post a high of $13.7975 and low of $13.5675, outside Monday's range of $13.78 [...]

Though this continuous weekly chart for the spot-month crude oil market hasn't changed much from last Monday (see "Crude Oil: From Russia With Love"), the $2.33 (3.5%) selloff to start the week stands out to me this morning. Yes, the [...]

I know I just posted the continuous monthly chart for December corn a couple weeks ago (Monthly Analysis from August 1, "December Corn: Still Topped"), but the first half of August has seen an interesting chart pattern develop that we [...]

The US dollar index ($DXY) looks to again be running out of bullish momentum, at least short-term. Wednesday saw the $DXY hit an early high of 93.19, equaling the mark from July 21 (red dashed line) before falling below Tuesday's [...]

I've mentioned what I call the Chili Pepper Progression/Regression the last couple days, so wanted to take a moment to better explain what I'm talking about. As a chili pepper matures, or progresses through its life cycle, it turns from [...]

I just heard an interesting piece of information from host Brian Sullivan on CNBC's Worldwide Exchange. US crude oil imports from Russia have increased 23% during May and nearing 840,000 barrels per day, putting Russia as the second largest US [...]

A good friend sent me a message early Friday that concluded with, "Interesting daily chart formation in the Dec/Feb LC spread yesterday", and my friend is correct. Similar to what I talked about in Wednesday's look at the Oct-Dec live [...]

As I mentioned in Thursday's Morning Commentary, the September coffee contract looks to be on he brink of a bearish breakout of its recent consolidation pattern. Since posting a low of $1.7160 this past Monday, the contract posted a couple [...]

There is a lot going on in the live cattle market these days, with the minor (short-term) uptrend we see on this daily chart for the October-December futures spread just one part. If you squint your eyes just right you [...]

It has been awhile since I last posted about the November-July soybean futures spread, so I want to have you use the search function on the website (magnifying glass, upper right hand corner) and type in "Nov-July". Once it pulls [...]

I'm going out there a ways with this one, as I had a call come in curious about February live cattle. Last week saw the contract post a new high of $138.85 before closing at $137.20, down $0.125 for the [...]

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 [...]