US Soil Moisture

2021-09-28T15:18:32-05:00September 28th, 2021|Commentary, Report Commentary|

This week’s soil moisture map (left hand side) from the National Weather Service Climate Prediction Center, for Monday, September 27 shows not a lot of change over the past week. However, if we want to break out the magnifying glass [...]

An Interesting Day

2021-09-28T14:22:04-05:00September 28th, 2021|Afternoon Commentary, Commentary|

Session Summary: There was a lot going on Tuesday, starting with the solid rally posted by the US dollar index. As I mentioned in a Quick Takes, the greenback popped to a new 4-month high beyond 93.72 on its way [...]

Still the Same

2021-09-28T06:02:02-05:00September 28th, 2021|Commentary, Morning Commentary|

Morning Summary: If you read Monday’s Morning Commentary, then you’ll like what’s in store for Tuesday because markets are pretty much the same. The grain and oilseed complex is quietly mixed, as are softs. Meanwhile, metals are under pressure as [...]

Major Moves

2021-09-27T14:17:09-05:00September 27th, 2021|Afternoon Commentary, Commentary|

Session Summary: Sometimes I think of things I should say, then self-edit those thoughts out of my commentary. Such was the case late last week when the low trade volume of a number of markets just gave the vibe a [...]

CFTC CoT: Corn

2021-09-27T09:34:17-05:00September 27th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders increased their corn net-long futures position by 6,867 contracts, putting it at a total of 265,501 contracts as of Tuesday, September 21. Included in this was a decrease [...]

CFTC CoT: Soybeans

2021-09-27T09:30:25-05:00September 27th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders decreased their net-long soybean futures position (blue line) by 4,701 contracts, putting it at 61,054 contracts as of Tuesday, September 21. Included in this was a decrease [...]

CFTC CoT: All Wheat

2021-09-27T09:27:48-05:00September 27th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders decreased their net-long Chicago wheat futures position (blue line) by 2,732 contracts to a total of 1,842 contracts as of Tuesday, September 21. Included in this was [...]

CFTC CoT: Cotton

2021-09-27T09:23:57-05:00September 27th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders decreased their net-long cotton futures position (blue line) by 13,198 contracts, putting it at 95,025 contracts as of Tuesday, September 21. Included in this was a decrease [...]

CFTC CoT: Lean Hogs

2021-09-27T09:10:16-05:00September 27th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders decreased their net-long lean hog futures position (blue line) by 6,871 contracts, putting it at 60,363 contracts as of Tuesday, September 21. Included in this was a [...]

2021: A Space Odyssey, Part 1

2021-09-26T13:18:31-05:00September 26th, 2021|Commentary, Weekly Column|

The recent run of dry weather, with some areas of the United States also experiencing extended summer warmth, has accelerated early harvest progress. By the time you read this it would not be surprising if the 2021 US corn harvest [...]

Like Paint Drying

2021-09-24T14:17:59-05:00September 24th, 2021|Afternoon Commentary, Commentary|

Session Summary: I understand if you found something other than watching markets Friday; like attending an early high school football game, heading out to the field even if you aren’t in harvest yet, or watching chess on Public Television. Any [...]

Game of Thrones

2021-09-24T06:10:36-05:00September 24th, 2021|Commentary, Morning Commentary|

Morning Summary: One of the first financial news discussions I heard this morning had to do with Costco announcing purchase limits on toilet paper, but that wasn’t the most interesting throne-related news early Friday morning. The other hot topic was [...]

Instant Replay

2021-09-23T14:33:05-05:00September 23rd, 2021|Afternoon Commentary, Commentary|

Session Summary: If you are just checking markets and think the day’s close looks familiar, you are correct. The US dollar index was under pressure throughout the day, despite most talking heads on financial television telling us how hawkish US [...]

Dollar Down

2021-09-23T06:16:23-05:00September 23rd, 2021|Commentary, Morning Commentary|

Morning Summary: The US dollar index was under pressure overnight through early Thursday morning, following through on recent bearish technical signals as traders try to decide what to think about US Fed Chairman Powell’s comments Wednesday afternoon. The general consensus [...]

No Falling Leaves Yet

2021-09-22T14:32:23-05:00September 22nd, 2021|Afternoon Commentary, Commentary|

Session Summary: If we consider the various commodity contracts as leaves on a giant tree, few of them were anything but green on this fall equinox (Wednesday, September 22). As I make my way from limb to limb, the first [...]

Not a Creature was Stirring

2021-09-21T14:06:48-05:00September 21st, 2021|Afternoon Commentary, Commentary|

Session Summary: I know, it’s not the night before Christmas but a look at market activity, or the lack thereof, certainly suggest nobody was stirring. Not even a mouse. Trade volume was light across the board, automatically attaching an asterisk [...]

US Soil Moisture

2021-09-21T10:43:03-05:00September 21st, 2021|Commentary, Report Commentary|

This week’s soil moisture map (left hand side) from the National Weather Service Climate Prediction Center, for Monday, September 20 shows the situation across the US Plains worsened this past week. Deficits increased from the Texas Panhandle north through Kansas, [...]

Newton Knew

2021-09-21T06:07:08-05:00September 21st, 2021|Commentary, Morning Commentary|

Morning Summary: Yes, “Turnaround Tuesday” is cliché, and a phrase vastly overused in the market commentary industry. But there is a tendency, particularly following a macro event like what we saw Monday, for markets to react the opposite direction. In [...]

Forever and Evergrande

2021-09-20T15:12:06-05:00September 20th, 2021|Afternoon Commentary, Commentary|

Session Summary: I had a question come in asking, “Do you think China will bail out Evergrande?” First, thank you for sending in questions and comments and second, I forwarded the question on to my son Ben who pays closer [...]

CFTC CoT: Corn

2021-09-20T09:52:25-05:00September 20th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders decreased their corn net-long futures position by 9,143 contracts, putting it at a total of 258,634 contracts as of Tuesday, September 14. Included in this was a decrease [...]

CFTC CoT: Soybeans

2021-09-20T09:47:55-05:00September 20th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders decreased their net-long soybean futures position (blue line) by 4,482 contracts, putting it at 65,755 contracts as of Tuesday, September 14. Included in this was a decrease [...]

CFTC CoT: All Wheat

2021-09-20T09:42:29-05:00September 20th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders decreased their net-long Chicago wheat futures position (blue line) by 12,966 contracts to a total of 4,574 contracts as of Tuesday, September 14. Included in this was [...]

CFTC CoT: Cotton

2021-09-20T09:36:15-05:00September 20th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders decreased their net-long cotton futures position (blue line) by 692 contracts, putting it at 108,223 contracts as of Tuesday, September 14. Included in this was an increase [...]

CFTC CoT: Lean Hogs

2021-09-20T09:22:18-05:00September 20th, 2021|Charts, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders decreased their net-long lean hog futures position (blue line) by 9,121 contracts, putting it at 67,234 contracts as of Tuesday, September 14. Included in this was a [...]

Rain Delay

2021-09-20T06:21:10-05:00September 20th, 2021|Commentary, Morning Commentary|

Morning Summary:  We did see some harvest taking place as we traveled between Omaha, Nebraska and Kansas City this past weekend. Late last week I had a few reports come in of combines getting fired up, mostly across the US [...]

Silver Linings

2021-09-17T14:11:44-05:00September 17th, 2021|Afternoon Commentary, Commentary|

Session Summary: Let’s start at the very beginning. It’s a very good place to start. Do…as in dough, or the US dollar index shook off its early doldrums to rocket higher Friday, hitting a high of 93.22 and putting it [...]

Lead Zeppelin

2021-09-16T14:24:09-05:00September 16th, 2021|Afternoon Commentary, Commentary|

Session Summary: With the US dollar index rallying Thursday, the greenback was up 0.46 at this writing and pressing 93.00, it wasn’t surprising some of the commodity sectors came under increased pressure. Leading the way was metals, the sector falling [...]

Green Day

2021-09-15T15:11:39-05:00September 15th, 2021|Afternoon Commentary, Commentary|

Session Summary: The commodity sector in general posted a bullish session, though there were outliers. Most notable in the last group was cattle, both live and feeders, though future spreads indicate pressure didn’t come from commercial interests as expected earlier [...]

More of the Same

2021-09-15T06:06:21-05:00September 15th, 2021|Commentary, Morning Commentary|

Morning Summary: There was no widespread turnaround activity Tuesday night following the day session’s mostly higher close to the commodity sector. The US dollar index was under pressure once again, falling as much as 0.23 and sitting within the shadow [...]

Some Things Considered

2021-09-14T14:21:25-05:00September 14th, 2021|Afternoon Commentary, Commentary|

Session Summary: I tend to take a mental pause whenever I hear the name of the National Public Radio program “All Things Considered”. The reality is there is no way to consider all things, particularly in the markets, when every [...]

US Soil Moisture

2021-09-14T09:36:14-05:00September 14th, 2021|Commentary, Report Commentary|

This week’s soil moisture map (left hand side) from the National Weather Service Climate Prediction Center, for Monday, September 13 is a solid illustration that even during harvest soil moisture deficits can worsen. The first thing that jumped out at [...]

Sur-Render

2021-09-13T14:44:36-05:00September 13th, 2021|Afternoon Commentary, Commentary|

Session Summary: The day started with news of a fire at the JBS packing plant in Grand Island, Nebraska and the initial thought that came to most was of the Tyson fire in Holcomb, Kansas a couple years ago that [...]

CFTC CoT: Corn

2021-09-13T10:02:01-05:00September 13th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders decreased their corn net-long futures position by 36,395 contracts, putting it at a total of 267,777 contracts as of Tuesday, September 7. Included in this was a decrease [...]

CFTC CoT: Soybeans

2021-09-13T09:58:17-05:00September 13th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders decreased their net-long soybean futures position (blue line) by 10,898 contracts, putting it at 70,237 contracts as of Tuesday, September 7. Included in this was a decrease [...]

CFTC CoT: All Wheat

2021-09-13T09:53:57-05:00September 13th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders decreased their net-long Chicago wheat futures position (blue line) by 5,265 contracts to a total of 17,540 contracts as of Tuesday, September 7. Included in this was [...]

CFTC CoT: Cotton

2021-09-13T10:03:57-05:00September 13th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders increased their net-long cotton futures position (blue line) by 2,201 contracts, putting it at 108,915 contracts as of Tuesday, September 7. Included in this was an increase [...]

CFTC CoT: Lean Hogs

2021-09-13T10:04:53-05:00September 13th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders increased their net-long lean hog futures position (blue line) by 1,869 contracts, putting it at 76,355 contracts as of Tuesday, September 7. Included in this was a [...]

And Here We Go

2021-09-13T06:12:39-05:00September 13th, 2021|Commentary, Morning Commentary|

Morning Summary: While the grain and oilseed complex was relatively quiet overnight through Monday morning, other sectors were seeing solid activity. Most of the talk on CNBC to start the day was of coming tax increases and the bearish effect [...]

Well, That was Interesting

2021-09-10T14:24:32-05:00September 10th, 2021|Afternoon Commentary, Commentary|

Session Summary: As I often say, USDA report days may not be informative, but they certainly can be entertaining. Friday was no exception with nothing of substance in the reports themselves, while the reaction in corn and soybeans was fun [...]

Memories

2021-09-10T05:59:53-05:00September 10th, 2021|Commentary, Morning Commentary|

Morning Summary: Well, we’ve reached another USDA report day, and I don’t have to tell most of you of my loathing of these things. But there has been some fun with the September round of silliness in the past, most [...]

Horseshoes

2021-09-09T14:23:36-05:00September 9th, 2021|Afternoon Commentary, Commentary|

Session Summary: I know I’m showing my age with this one, but I remember playing horseshoes, the equivalent of today’s Corn Hole game (appropriately enough, as you’ll see in a bit), at family get-togethers as a kid. Those of you [...]

Second Hand News

2021-09-09T06:18:06-05:00September 9th, 2021|Commentary, Morning Commentary|

Morning Summary: The big news Wednesday was so big I didn’t hear of it second hand until long after markets had closed and Afternoon Commentary had been posted. Reportedly, FSA had mistakenly posted 2021 acreage registrations rather than waiting for [...]

Hard Red

2021-09-07T14:26:55-05:00September 7th, 2021|Afternoon Commentary, Commentary|

Session Summary: Almost everywhere you look Tuesday afternoon, commodity markets closed in the red. In fact, the only sector showing much green (outside of the thinly traded rough rice market) was softs. Of the true soft markets, only sugar finished [...]

US Soil Moisture

2021-09-07T11:36:36-05:00September 7th, 2021|Commentary, Report Commentary|

This week’s soil moisture map (left hand side) from the National Weather Service Climate Prediction Center, for Monday, September 6 had me double-checking the official website. I first thought there was no way I could be seeing what I though [...]

Back to Work

2021-09-07T06:19:22-05:00September 7th, 2021|Commentary, Morning Commentary|

Morning Summary: Welcome back from the long 3-day US holiday weekend though markets were still acting a bit groggy. Th US dollar index was showing a modest gain, adding as much as 0.13 early and putting light pressure on the [...]

Live Labor Lost

2021-09-03T14:18:18-05:00September 3rd, 2021|Afternoon Commentary, Commentary|

Session Summary: This play on the title of one of Shakespeare’s comedies (Love’s Labour’s Lost) is reference to live cattle losing big going into the Labor Day 3-day US holiday weekend. I want to take you back to a couple [...]

Turnaround Thursday

2021-09-02T15:01:34-05:00September 2nd, 2021|Afternoon Commentary, Commentary|

Session Summary: It took a little longer this week, but we finally saw some markets move against previous sessions. Notable in the commodity sector was the grain and oilseed complex that saw almost all contracts close in the green, despite [...]

Not Much Different

2021-09-01T14:35:52-05:00September 1st, 2021|Afternoon Commentary, Commentary|

Session Summary: In the end, there was not much difference between yesterday’s last day of meteorological summer and today’s first day of meteorological fall. At least not according to how markets acted. Most of the commodity sector closed in the [...]

Fall In

2021-09-01T05:51:19-05:00September 1st, 2021|Commentary, Morning Commentary|

Morning Summary: Good morning everyone, and welcome to the first day of meteorological fall. Wednesday’s early markets aren’t much different than what we saw 24 hours ago as summer was set to end. However, the energy complex was back in [...]

Ruby Tuesday, Verse 3

2021-08-31T15:24:19-05:00August 31st, 2021|Afternoon Commentary, Commentary|

Session Summary: I had to think about the title for a while. But after running the traps of the commodity sector and finding mostly red markets, and this being a Tuesday, well, Ruby Tuesday just made sense again. A simple [...]

US Soil Moisture

2021-08-31T10:49:18-05:00August 31st, 2021|Commentary, Report Commentary|

This week’s soil moisture map (left hand side) from the National Weather Service Climate Prediction Center, for Monday, August 30 gives me the opportunity to say something I haven't for many months: The situation across parts of the US Northern [...]

It Figures

2021-08-31T05:50:09-05:00August 31st, 2021|Commentary, Morning Commentary|

Morning Summary: And here we are, the last day of meteorological summer, and much of the eastern US has seen rain over the last 24 hours (see attached map). It figures, given how dry the summer quarter was for so [...]

For Every Action…

2021-08-30T14:24:48-05:00August 30th, 2021|Afternoon Commentary, Commentary|

Session Summary: It took a while, but there was finally a reaction by many markets to Hurricane Ida Monday. Let’s start with November lumber, as rebuilding is always a top priority and a major talking point on market tv throughout [...]

CFTC CoT: Corn

2021-08-27T15:17:09-05:00August 27th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders decreased their corn net-long futures position by 14,879 contracts, putting it at a total of 330,967 contracts as of Tuesday, August 24. Included in this was a decrease [...]

CFTC CoT: Soybeans

2021-08-27T15:11:24-05:00August 27th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders decreased their net-long soybean futures position (blue line) by 14,757 contracts, putting it at 101,647 contracts as of Tuesday, August 24. Included in this was a decrease [...]

CFTC CoT: All Wheat

2021-08-27T15:04:43-05:00August 27th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders decreased their net-long Chicago wheat futures position (blue line) by 11,746 contracts to a total of 35,048 contracts as of Tuesday, August 24. Included in this was [...]

CFTC CoT: Cotton

2021-08-27T14:57:50-05:00August 27th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders increased their net-long cotton futures position (blue line) by 1,278 contracts, putting it at 104,309 contracts as of Tuesday, August 24. Included in this was an increase [...]

Go to Top