As I mentioned in Morning Commentary, there are a number of markets to watch Friday for potential reversal patterns on weekly charts. USDX: A bullish spike reversal if if closes above last week's settlement of 102.01 Weekly stochastics posted a [...]

During one of my market conversations Thursday, I actually made the comment that Kansas City wheat was following its technical patterns well. Having been around the HRW wheat market all my life, a chill immediately went down my spine after [...]

The stage is set for new-crop July Kansas City (HRW) wheat to extend its minor (short-term) uptrend. The contract has rallied off Monday's low of $8.0150, with resistance at the previous 4-day high of $8.3925 now in sight. July KC [...]

I had a request for an updated look at the daily chart for March S&P 500 futures (ESH3) following the combined rally of last Friday through this past Monday. As always, I appreciate the input and feedback from all of [...]

Monday is one of those mornings when I look up and an hour has already gone by since the opening bell. A number of markets spent that time making big moves, including March feeder cattle. Here we see March feeders [...]

The daily charts for March copper are interesting. I say 'charts' because I'm looking at both the candlestick (slide 1) and bar chart (slide 2), and both show me something sillier. Wednesday's session left what is called a bearish dragonfly [...]

It has already been a bearish day for the US dollar index ($DXY), and it is only 9:00 (ET). The early morning hours saw the $DXY take out its previous low of 101.77 from this past Monday, a session that [...]

I've talked with a couple of you recently about a possible short-term top on the daily chart for the S&P 500 contract. However, last week saw the index extend its rally bit by bit with the futures contract hitting a [...]

As I mentioned in Monday morning's Quick Take, the US dollar index ($DXY) is in position to complete a bullish reversal on its short-term daily chart. Overnight through early Friday morning saw the $DXY extend its minor (short-term) downtrend to [...]

As I mentioned in Friday's Morning Commentary, March lumber is in position to post a new 4-week high this week. The contract extended its recent rally to $423.00 (per 1,000 board feet) during Thursday's session before closing at $420.20, with [...]

The March crude oil contract posted a new 4-day high on its daily chart, a bullish reversal pattern confirming the minor (short-term) trend has turned up. I say 'confirming' because we also saw a bullish spike reversal back on January [...]

As I said in Afternoon Commentary, there was a lot going on in March corn Tuesday, with the bottom line being the Goldilocks Principle was proven once again. For those new to this analysis the Goldilocks Principle tells us, "Daily [...]

March corn broke out of its continuation patter overnight through early Monday morning, a pattern I'll call for now a bearish flag. Let's break it down the move so far: The top-half of the flagpole fan from the completion of [...]

Think of this as Friday's Chart of the Day, posted on a Saturday to allow the US dollar index (USDX) to settle for the week. As I mentioned in Afternoon Commentary, Friday's sharp selloff created an interesting pattern on the [...]

The Chicago (SRW) wheat March-May futures spread has been a wild ride the last month or so. A look at the spread's daily close-only chart shows it bottomed out on December 2 at a carry of 12.25 cents and covering [...]

Things are happening quickly in the crude oil market following Tuesday's key bearish reversal on the continuous daily chart. The spot-month Feb contract posted a high of $81.50 Tuesday before falling below last Friday's low of $77.71 and closing at [...]

As I mentioned in Monthly Analysis: Currencies, the US dollar index was in position to see a turn to a secondary (intermediate-term) uptrend. It didn't take long into 2023 as the $DXY rocketed higher overnight through early Tuesday morning, gaining [...]

I was visiting with a friend about crude oil Wednesday, and the question was if the day's low of $77.30 was close enough (The Horseshoe Proximity) to the minor (short-term) downside target of $77.03 to say a Wave 4 had [...]

The boxed beef market has been rocketing higher of late, with the choice price reported by USDA (so take it for what it's worth) at $280.04 Tuesday afternoon. This set a number of interesting markers: It was the highest daily [...]

As mentioned in Morning Commentary, it's possible March corn posted a Wave 3 peak of its 5-wave minor (short-term) uptrend overnight. The contract hit a high of $6.4475, a solid test of the upside target near $6.4425, the 38.2% retracement [...]

If nothing else, financial television is good for a laugh. In fact, one could make the argument there are better comedy writers on some of these networks these days than those that actually have programs actually classified as situation comedies [...]

A good friend and I were discussing the sideways pattern on February live cattle's weekly chart I talked about in Weekly Analysis Monday. In Theoretical Positions I mentioned the possibility of putting a long straddle in place given the low [...]

The subject of a Horseshoe Proximity (Close is close enough) has come up a couple times already, once in Weekly Analysis of March feeder cattle and again here as I look at the weekly chart for the US dollar index. [...]

As I was typing Friday’s Morning Commentary, I realized I could get into a longer discussion on the February WTI crude oil contract. Given the same subject was this past Tuesday’s Chart of the Day (A Strong Start), I decided [...]

I mentioned in Thursday's Afternoon Commentary how the March soybean contract was in short-term consolidation range. The pattern was similar to what we recently saw on the market's various weekly charts with support and resistance at converging trendlines. As I [...]

Much of the attention was on crude oil again Tuesday, with the spotlight turning toward the February WTI contract. A look at the daily chart shows Feb crude broke through resistance at its previous 4-day high of $75.53 on its [...]

The euro (versus the US dollar) extended the major (long-term) uptrend on its monthly chart Tuesday to a high of 1.06731. This hit the initial upside target of 1.06108 I talked about in Monthly Analysis, the 38.2% level of the [...]

One of the markets I was keeping an eye on overnight was the US dollar index. This week has seen the greenback's minor (short-term) trend turn up after the index posted a bullish spike reversal Monday. This was followed by [...]

Given Wednesday's move to within 0.5 cent of last week's high, one of the first things I checked Thursday morning was how January soybeans did overnight. Sure enough, the contract took out last week's mark, setting a new 4-week high [...]

As I mentioned in Morning Commentary, it is possible we could see the March corn contract post a bullish reversal pattern on its short-term daily chart Wednesday. March was a bit sneaky Tuesday, as its daily stochastics almost imperceptibly established [...]

Since I covered nearly every chart imaginable (weekly and monthly) this past weekend, I want to take a different tack for Monday's Chart of the Day and look at something I mentioned in Morning Commentary. The weekly CFTC Commitments of [...]

Those of you who have been around long enough to remember pit trade at the Chicago Board of Trade might recall the old symbol for soybean oil was BO. I know it is juvenile, but I usually got a chuckle [...]

In my piece for Barchart Tuesday I focused on the US dollar index. The flip side of the global coin is the euro, and a look at the various charts shows downtrends are in place on both the short-term daily [...]

An initial look at the daily chart for crude oil and one sees what could be classified as a spike reversal during Monday's session. The spot-month contract dropped to a low of $75.77 before closing at $80.04, still down $0.04 [...]

The week got off to a rollicking for January feeder cattle as the contract gapped higher Monday morning, with the opening price of $181.50 holding as the session low. This accomplished a number of things, technically: First, it looks to [...]

The soybean market has been acting a lot like corn the last number of months, as indicated by the sideways pattern seen on the weekly chart for the January contract. Here we see a pattern of converging trendlines, with resistance [...]

This past Monday I talked about how the December S&P 500 futures contract was in position to establish a Wave 5 peak of its minor (short-term) 5-wave uptrend. However, it was needing both a bearish crossover by daily stochastics to [...]

Technically, February live cattle look to have moved into a minor (short-term) uptrend this week. Monday saw the contract drop to the target price near $152.50, the 61.8% retracement level of its previous uptrend. Tuesday saw the contract rally to [...]

Last Friday in this space I talked about how the Dec22-Dec23 corn spread was getting close to a bullish breakout on its daily close-only chart, needing only a close at a new 4-day high. Tuesday was that day as the [...]

I saw a piece talking about how the "peak inflation rally" in US stocks was stalling, a followup to a weekend's worth of headlines all saying the same thing: Last week's rally was overdone and unnecessary. Maybe so, but Newsom's [...]

Those of you using Monthly and Weekly Analysis as your investment newsletter could find yourself short December 2022 corn futures near the May 2022 close of $7.1150. This was based on a bearish spike reversal on Dec corn's continuous monthly [...]

It has been an active morning for global currencies (slide 1), with much of the excitement occurring following the release of US Consumer Price Index data for October. The US dollar index (slide 2) has already posted an outside trading [...]

The last time we talked about December live cattle (October 27, "The Return of the Grinch"), the focus was on the two types of short-term bearish reversals the contract had posted on its daily chart. Since then, Dec fell to [...]

Think of a movie scene where the character is walking in a room, only to have one of his steps create a hole in the floor. There he is dangling, knowing the floor is weak and about to give way [...]

I had a question come in via social media Sunday evening asking if I though corn still wore the title King. I answered in the affirmative, listing a number of reasons I still see King Corn ruling over the kingdom [...]

It has been a while since Lean Hogs were in the Chart of the Day spotlight, but as I was running the traps late Thursday I found the market’s daily charts interesting. The February contract (as well as most of [...]

I had a question come in about the 2023 May-July corn spread. My friend asked, "Aside from weak exports, do you see the inverse getting stronger as we move through 2023 as the spread did the past two years?" It's [...]

After I posted my Monthly Analysis of Currencies Tuesday a good friend sent in a question: If both the euro and Canadian dollar are turning up relative to the US dollar, which will strengthen more? Setting aside the Goldilocks Principle [...]

Often when I think about natural gas, The Rolling Stones' classic "Jumping Jack Flash" comes to mind. Not only does it include the line, "It's a gas! Gas! Gas!", but the rest of the lyrics are nearly incomprehensible.[i]Therefore, the song [...]

The coffee market has been getting a lot of press lately due to the futures market extending the secondary (intermediate-term) downtrend on its various weekly charts. Here we are looking at the December weekly close-only as this week finds the [...]

As we know, things can change quickly in the world of markets and sometimes the livestock sector switches gears faster than most. Such is the case this week with the December live cattle contract, at least from a technical point [...]

As I mentioned in Thursday's Morning Commentary, the US dollar index looks like it could be putting in a short-term bottom on its daily chart. The flip-side of the global coin is the euro, and its daily chart is showing [...]

The live cattle market has been incredible to watch the last couple weeks as issues continue to post new contract highs across the board. I know the industry is in competition to see who can proclaim loudest the move is [...]

A look at December corn's weekly close-only chart shows us a market that seems to be in the process of establishing  a secondary (intermediate-term) top. Recall for the last many months I was projecting a high weekly close the second [...]

Today brings with in the next round of USDA Cattle on Feed reports, though this time around we could be looking at something a bit different than what we've seen for the past many months (years?). Before we dive into [...]

It took a while, but the nearby November lumber contract finally completed a bullish reversal on the market's continuous (nearby futures) weekly chart. Wednesday's session saw November hit a high of $540.00 (per 1,000 board feet), taking out the previous [...]

Let's get this Wheat Wednesday rolling with a look at the March Kansas City-Chicago futures spread. As I mentioned in Tuesday's Afternoon Commentary, a friend asked about this spread and my Blink reaction was that it should continue to trend [...]

January feeder cattle are quickly rolling through the waves of their recently established minor (short-term) 5-wave uptrend. Monday's high of $177.75 took out the Wave 1 peak of $177.675 from October 12, confirming the contract is now in Wave 3. [...]

It should be an interesting week for the soybean meal market. A look at the daily chart for the July contract shows the minor (short-term) trend turned up with what looked to bee a 2-day bullish reversal on October 6 [...]

I mean no disrespect to my friends in Canada, Brazil, Japan, or anywhere else in the world when I say the two most closely watched global currencies ar the US dollar an euro. Those of you following along with Monthly [...]

I know there is getting to be more interest in the cattle markets, both live and feeders, with a common question being something along the line of, "Will this market ever find a bottom?" Shortly before the close, a good [...]

There were a number of potential candidates for Monday's Chart of the Day, but following my lengthy discussion about December corn's bullish session I decided go with the contract weekly chart. Here we see Dec took out its previous 4-week [...]

One almost has to chuckle when they take a look at the daily chart for December lean hogs. After building what looked to be some type of bottoming formation from September 28 through October 3, the contract erupted into a [...]

September was a tough month for the boxed beef market as both choice and select took a beating. For the record: Choice reportedly finished the month at $243.75 as compared to the end of August price of $258.34 and September [...]

With all that is going on Friday, it might be easy to overlook activity out in the Barn. However, it might be a good idea to keep a technical eye on the cattle markets, both live and feeder, as contracts [...]

There has been a lot of talk about the exploding barge freight market of late, with Barchart posting a chart last night showing the St. Louis barge rate hitting its highest level in eight years. Much of this has to [...]

When the dust had settled on Tuesday's session the November soybean contract had created a laundry list of bearish technical signals on its short-term daily chart: First and foremost is the the bearish outside range the contract completed over the [...]

I've already had some questions come in about the December corn double-top formation discussion in Morning Commentary. A look at the contract's daily chart and you'll see what I'm talking about as Dec posted a high of $6.9950 on September [...]

I know it's Cattle on Feed week, and a good friend always reminds me traders show avoid making moves this week like the plague. Despite this piece of wisdom, the weekly chart for December (February, April, June, August) live cattle [...]

Much of the talk Tuesday was of a stronger than expected August housing starts number of 1.58 million, as compared to an expected 1.5 million and July's 1.4 million. As usual, it came with the normal political divisions with those [...]

A good friend asked me Monday afternoon if Dec S&P 500 futures (ESZ) had posted a bullish key reversal on its daily chart. The ESZ took out the previous day's low of 3,853.00 on its way to 3,846.25 and eclipsed [...]

A look at this daily chart for December lean hogs might not raise many eyebrows given the contract closed $0.175 higher for the day. However, it rallied as much as $0.75 over the course of Monday's session with the pullback [...]

There are a number of markets and contracts that could be used for Friday's Chart of the Day, though most of them I'm waiting to see what their individual weekly close-only charts look like at today's close. However, one stood [...]

After Tuesday morning's postings I will be out of the office until Thursday afternoon. In the meantime, I wanted to update one part of the Theoretical Position in December Corn. Those of you who have been following along will likely [...]

Things look to be getting more interesting on the November soybean weekly chart following Monday's rally. As I said Afternoon Commentary, the day's activity looked to be a classic conclusion to a Rubber Band Disposition, resulting in what could be [...]

I had a question come in Thursday afternoon, wondering about the direction of October live cattle. As I told my friend, a look at the contract's daily chart doesn't show me much, with the cloudy view roughly resembling a sideways [...]

Given all that happened in markets Wednesday, it was a tough call as to which one to feature as the Chart of the Day. After much deliberation, and the fact I haven't looked at a lean hog daily chart in [...]

As I mentioned in Tuesday's Afternoon Commentary, things could get interesting for December corn this holiday-shortened week. Dec22 posted a high of $6.7650 Tuesday before closing at $6.76, all on support from continued noncommercial buying. A look at the contract's [...]

A good friend called in Thursday afternoon asking my opinion about October live cattle. Unfortunately, as the conversation came to an end, I was certain I had left him with more questions than answers. But that's the nature of the [...]

Now that September grain and oilseed futures have moved into delivery, attention turns to the December contracts. One that should garner a great deal of attention over the coming months is the Dec Kansas City (HRW) wheat issue. While it [...]

A favorite spread among traders each year is the Dec-Dec corn spread. I've been keeping an eye on this one as well, particularly with more questions starting to come in regarding getting some 2023 production priced. All while the Dec22 [...]

I want to quickly look back at my Chart of the Day from last Monday (S&P 500: Back in Line) that talked about the bearish spike reversal on the S&P 500's weekly chart. This pattern indicated the secondary (intermediate-term) trend [...]

Fans of the long-running Nickelodeon television show SpongeBob Squarepants might recall the titular character lived in a pineapple under the sea, in a city called Bikini Bottom. For many of you, that is likely more than you wanted to know [...]

As mentioned in Thursday's Morning Commentary, the US dollar index (USDX) looks to be building a double top reversal pattern on its weekly chart. The previous high from the week of July 11 was 109.29, with the USDX reaching 109.27 [...]

As I talked about in Wednesday's Afternoon Commentary, there was a lot going on with December corn late in the session. after hitting a high of $6.71 the contract fell back to close at $6.5725, up only 2.0 cents for [...]

December gold is just one of the contracts that have jumped early Tuesday morning, looking like it is building toward a new minor (short-term) 5-wave uptrend. Monday saw the contract fall to a low of $1,740.20, dipping below the downside [...]

As mentioned in Monday's Morning Commentary, the S&P 500 completed a bearish spike reversal on its weekly chart last week. After posting a new high for the secondary (intermediate-term) uptrend of 4,325.28 the index fell to a low of 4,218.70 [...]

As I mentioned in Friday's Morning Commentary, there are a number of short-term technical patterns developing on November soybeans daily chart. First, the contract looks to be in the process of erasing Thursday's bullish outside range. While I could be [...]

It has been a bearish week for the lean hog market and no contract illustrates this more than the December issue. A look at the December weekly chart shows it posted a new contract high of $91.35 Tuesday, before collapsing [...]

It's still early Wednesday, but the December corn contract has put itself in position to possibly complete a bullish spike reversal on its daily chart. This patter would indicate the Wave 4 selloff has come to an end and Wave [...]

This is one of those times when I kick myself for not seeing the patterns earlier. The daily chart for October soybean oil has been following a number of patterns lately, mostly to the T, something that just doesn't happen [...]

I've had requests for the next round of Monthly Analysis to include the three major livestock markets, so I'll get the ball rolling again with a question that came in from a long-time friend Thursday afternoon. He was wondering, "With [...]

As I mentioned in Wednesday's Afternoon Commentary, the rally posted by September feeder cattle looked strange. One day after falling as much as $3.25 and closing down $3.15 for the day, with commercial selling leading the way, Sep feeders finished [...]

As I mentioned in Afternoon Commentary, November soybeans completed a bearish spike reversal patter at Wednesday's close. This occurred after the contract hit a daily high of $14.5475, easily blowing out Tuesday's high of $14.3850 before closing at $14.2775, down [...]

There is a lot going on technically with the October live cattle contract as we get ready for Tuesday's session. Let's take this daily chart apart and see what we can find: First, Oct live looks to be in Wave [...]

The October lean hog futures contract looks is in position to again confirm a minor (short-term) downtrend is in play. Last Thursday (July 28) saw the contract post a bearish spike reversal, only to stabilize through the early part of [...]

As I discussed in Wednesday's Afternoon Commentary, November soybeans posted its third consecutive lower daily close Wednesday. This brings to mind a possible Benjamin Franklin Fish Similarity (Like guests and fish, a market starts to stink after three days against [...]

A good friend asked if I could make the Dec-Feb live cattle futures spread the chart of the day. As alway, I appreciate suggestions, questions, and comments. There is a lot to look at on this chart, both fundamentally and [...]

Monday's Chart of the Day actually takes a look at two charts: The dailies for both November soybeans and December corn. As I talked about in Afternoon Commentary, it was a rough day for both though nothing really changed from [...]

One piece of news Thursday after through Friday morning was McDonald's experiment with Beyond Meat was coming to an end and not as the success some thought it might be a couple years ago. Using the Search function on this [...]

One of the technical factors I winnowed from the herd of my analytical tools decades ago was moving averages. Does that mean they aren't important? No. It just means in my quest for keeping this as simple as possible, I [...]

Is the daily chart for September feeder cattle a bit of a jumble? Yes. The contract has left a series of spike highs and lows mixed in with a number of price gaps along the away. Given all this, what [...]

One of the markets I haven't talked enough about of late is soybean meal, and Tuesday's close gives me the opportunity to put the spotlight on the more heavily traded December contract. A look at the contract's daily chart shows [...]

As I mentioned in Monday's Morning Commentary, this is considered one of the biggest week's of the summer season for corporate earnings. Reportedly, "earnings from almost a third of the S&P 500s, including five mega cap tech companies" are on [...]

As I mentioned in Wednesday's Morning Commentary, the S&P 500 ($INX) is on the threshold of confirming a new secondary (intermediate-term) uptrend. If so, it would be viewed as Wave B (second wave) of the major (long-term) downtrend that has [...]

The new-crop November soybean contract still looks to be building up for a big move on its short-term daily chart. Tuesday saw it rally off its session low of $13.39, down 41.25 cents for the day, before closing at $13.5825. [...]

The December corn contract continues to climb, hitting a high of $6.1575 overnight before heading into intermission at $6.1425, up 10.5 cents from Friday's close. And while it a Wave 3 rally looks to be under way, coming off the [...]

Following Wednesday's look at August feeder cattle, a friend asked if I could post an updated analysis of December live cattle. This makes sense based on the idea of August feeders climbing above $180, December live better be moving higher [...]

Lost in the shuffle of Tuesday's macro-meltdown affecting many key commodity markets was the strong rally posted by August feeder cattle. The contract closed at $179.575, up $4.70 for the day, and within sight of its session high at $179.90. [...]

As discussed in Tuesday's Morning Commentary, November soybeans dropped as much as 35.75 cents overnight, hitting a low of $13.6925 along the way. A look at the contract's daily chart shows us this is not a surprise, and that it [...]

I know I've been talking a lot about Dec corn lately, but I want to take another look at the contract's daily chart as things are happening quickly. Sunday night saw Dec corn open at $6.4725, up 23.25 cents from [...]

With most of the attention this week on the grain and oilseed sector, activity out in the Barn has been going on in the shadows for the most part. That doesn't mean it hasn't been active, though, with a good [...]

I had a request come in for a look at the continuous monthly chart for Dec corn, though in addition to what I posted in Monthly Analysis my friend was wanting to see a wave count. As always, I appreciate [...]

Wednesday's session saw both December corn and November soybean post bullish spike reversals on their daily charts, both coinciding with bullish crossovers by daily stochasitcs below 20%, and therefore both indicating minor (short-term) trends have turned up. Fundamentally both new-crop [...]

Recall from Tuesday's Chart of the Day when I discussed how one would need to be a member of the Optimist Club to see something bullish on Dec corn's weekly chart. I can say the same thing about November soybeans. [...]

One has to be a die-hard optimism to look at this weekly chart for December corn and see something bullish. And while I've spent the better part of three and a half decades being considered anything but an optimist as [...]

"Yesterday. All my troubles seemed so far away..." Yes, it was only yesterday when I talked about how the December live cattle were not done yet with the minor (short-term) downtrend on the contract’s daily chart. The idea was Dec live [...]

I had a question come in Wednesday asking about December live cattle. My friend wanted to know if the contract was getting ready to make a deep dive or start to lose downside momentum. A look at the daily chart [...]

My first glance at the daily chart for November soybeans Tuesday afternoon brought to mind the Benjamin Franklin Fish Similarity[i]. Tuesday’s close of $14.6250 was the third consecutive higher daily close, but in this case the minor (short-term) trend already [...]

As discussed in Monday's Morning Commentary, it's possible we could see the December corn contract roll into a minor (short-term) uptrend over the coming days. I don't see anything concrete as of this writing, though there are some possibilities: We [...]

As I mentioned in Friday's Morning Commentary, the S&P 500 stock index ($INX) is in position to possible close higher for the week if it holds together through today's close. Last Friday's settlement was 3,674.84, just off the weekly low [...]

December corn confirmed it is Wave C (third wave) of its secondary (intermediate-term) 3-wave downtrend Thursday as it blew through the Wave A low of $6.82 (week of May 30). This was also the previous 4-week low, an important momentum [...]

Was it another ugly overnight session for new-crop November soybeans? Yes. The contract dropped as much as 27.5 cents before heading into intermission down 21.25 cents from Tuesday's close. Trade volume also picked up as November registered nearly 26,200 contracts [...]

It should be a fun day for November soybeans Friday. The contract rallied as much as 12.25 cents overnight and moved into intermission showing a gain of 8.5 cents, all on moderate-at-best trade volume of 13,300 contracts. Morning weather forecasts [...]

The last few days have been a wild ride in the euro as the currency collapsed Monday, stabilized Tuesday, before selling off and rallying during Wednesday's wild session. But it's here we see the key to the euro's minor (short-term) [...]

The December live cattle contract is starting to leave a number of price gaps[i] on its daily chart, most recently at Wednesday morning’s open. Tuesday’s high was $146.725 with a close of $146.25. This was followed by Wednesday’s open of $147.075 [...]

A good friend called this morning asking about the euro ahead of Wednesday's expected 0.75% interest rate hike by the US Federal Reserve. While that move should strengthen the US dollar, and weaken the euro, there's a good chance Monday's [...]

August feeder cattle look to have established its short-term Wave 5 peak lates last week. Thursday's session saw the contract post a high of $176.875 before closing at $176.025, leading to Friday's selloff and close at $174.475. Friday's session also [...]

One of the stories on natural gas I saw early Thursday morning, with a friend sending me a link to a lengthier article after I posted Morning Commentary (Thank you for that), was of an explosion at a Freeport LNG [...]

As I mentioned in this space Monday ("December Corn: Turn, Turn, Turn"), all the Dec22 contract was lacking in the way of a new minor (short-term) uptrend was a clear reversal pattern. That was taken care of Tuesday as the [...]

December live cattle posted an interesting start to the week, initially rallying to a new high for its minor (short-term) 5-wave uptrend before falling below last Friday's low of $145.375 and closing lower for the day. This completed a clear [...]

A look at the daily chart for December corn shows us a couple interesting developments overnight: First, the contract popped back above the big round number $7.00 after opening at $6.96, up 6.0 cents from last Friday's close Second, Dec [...]

December live cattle clearly moved into a short-term uptrend Thursday as it blew through its previous 4-day high of $144.575 from Tuesday. This follows what looks to be a bullish 2-day reversal completed Wednesday as the contract closed at $143.75, [...]

So far during this minor (short-term) uptrend, August feeder cattle have done pretty much as expected as it rides the waves higher. Wave 1 began with a bullish spike reversal on May 23 that included the low of $162.80, and [...]

The euro is under pressure early Tuesday, dropping to a low of 1.06893. This has the currency in position to complete a bearish 2-day reversal, depending on how the rest of there day plays out, a pattern that would likely [...]

As you know, I’ve been keeping a close eye on August feeder cattle of late given the contract has been showing signs of moving into uptrends, both short-term and intermediate-term. For the record, technically at least, August feeders completed the [...]

There has been a great deal of interest in the December live cattle issue of late, and rightfully so. After posing a low of $142.95 last week before inching below that mark this week to $142.925, the contract has rallied [...]

As I mentioned in Wednesday's Morning Commentary, the most popular question theses days is if the top is in December corn. For now I'll say yes, with a caveat: The long-term fundamentals of the market remain bullish, and that could [...]

Last Friday in this space, I talked about how August feeder cattle had not posted clear bullish reversal signals. Two trading days later, and the situation seems to have changed. A look at August feeder's daily chart shows the contract [...]

This morning I want to take a technical look at both sides of the global coin: The US dollar index (USDX) and the euro. The USDX As mentioned in Monday's Morning Commentary, the dollar completed a bearish 2-week reversal last [...]

I had a request come in Thursday asking if I could take a look at August feeder cattle. My friend was wondering how much more downside should be expected given this week's move to a new contract low of $164.60. [...]

I had a question come in Wednesday afternoon regarding corn basis versus the September futures contract. This was before the latest release of the Barchart National Corn Basis Index (NCBI, weighted national average basis) at 10.0 cents under July futures. [...]

As I mentioned in Tuesday's Afternoon Commentary, the US dollar index is in position to complete a bearish reversal pattern on its weekly chart this week. Last week saw the USDX hit a high of 105.00, its highest mark since [...]

Those of you out there who are foodies know the pork butt is actually from the shoulder, and when slow smoked and pulled makes one of the most delicious sandwiches known to mankind (pardon me while I wipe the drool [...]

As I mentioned in Morning Commentary, July soybeans took out its previous 4-day high of $16.2725 (Thursday's high) overnight through early Friday morning. This is a bullish reversal indicating the minor (short-term) trend has turned up, confirming the latest signal [...]

As you likely recall, one of the key economic indicators I track is the beef cutout markets. These tell me how demand for higher priced cuts of beef are trending and as of Tuesday, that trend is down. The latest [...]

A good friend called in Tuesday with a question that reminded me of the old limbo saying, "How low can you go?" My friend was concerned about October live cattle, and what the downside targets might be with his question, [...]

It is setting up to be an interesting week for the new-crop December corn contract. Technically (first chart) Last Friday's close of $7.2075 completed what could be viewed as a bearish 2-week reversal As it was near the weekly low [...]

Sometimes when I'm updating Report Commentary with the various weekly export sales and shipments number and charts on Thursday, a number slips by me without registering. Such was the case this week in soybeans. I mentioned at the time how [...]

I ran out of time and space in Afternoon Commentary to talk about all that took place in the livestock sector Thursday, but one of the markets that jumped out at me was June live cattle. The contract closed at [...]