Out Like a Lion

2021-03-05T14:25:18-06:00March 5th, 2021|Afternoon Commentary, Commentary|

Session Summary: If the month of March came in like a lamb, weatherwise, markets in general went out the first week like a lion. Gains were seen almost across the board, with crude oil (up 3.5%) and oats (3.6%) leading [...]

Making a Statement

2021-03-04T14:31:16-06:00March 4th, 2021|Afternoon Commentary, Commentary|

Session Summary:  Thursday’s highlights included a couple of market moving statements. First, an early statement from OPEC+ that production cuts would remain in place through April sent crude oil markets skyrocketing. The international Brent market gained as much as 5.7% [...]

Through Bloodshot Eyes

2021-03-04T05:50:07-06:00March 4th, 2021|Commentary, Morning Commentary|

Morning Summary: After pouring myself the usual cup of coffee to start the day, my first trip through running the traps of the various market sectors made me think I was looking at the world through bloodshot eyes. Treasury futures [...]

Wednesday’s Silver Lining

2021-03-03T14:20:22-06:00March 3rd, 2021|Afternoon Commentary, Commentary|

Session Summary:  As closing bells were ringing across the various market landscapes, the best word to describe the day’s activity was “Meh”. Yes, some markets made big moves, most notably crude oil to the upside (2.5%) and cotton to the [...]

A Mixed Morning

2021-03-03T06:01:37-06:00March 3rd, 2021|Commentary, Morning Commentary|

Morning Summary: Checking the commodity sector early Wednesday shows us mixed results, with the energy complex showing a strong gain and metals a solid selloff. In the energy complex, crude oil was up almost 2% with the spot-month contract gaining [...]

3-2-(2)1 Go!

2021-03-02T06:02:05-06:00March 2nd, 2021|Commentary, Morning Commentary|

Morning Summary: What does the title of this morning’s Commentary mean? Not much, just that I noticed the day resembles the countdown: March (3) 2, (202)1. Okay, maybe I haven’t had enough coffee yet. A look at the markets early [...]

March of the Bulls

2021-03-01T06:01:11-06:00March 1st, 2021|Commentary, Morning Commentary|

Morning Summary: We have crossed the bridge into meteorological spring and from what we’ve seen so far this March, the new month is much like what we’ve seen the last half-year. Metals led the way early Monday with silver up [...]

Spring Training

2021-02-28T10:14:02-06:00February 28th, 2021|Commentary, Weekly Column|

It’s the last day of February, meaning the last day of meteorological winter. In honor of the day, Major League Baseball has scheduled its first games of Spring Training for Sunday, the first sign meteorological spring begins with when the [...]

“This is the End…”

2021-02-26T08:29:54-06:00February 26th, 2021|Commentary, Morning Commentary|

Morning Summary: Friday marks the last trading day of the week, month, and quarter while this weekend brings a close to meteorological winter. Given that, as we look ahead to the day, the opening sequence from Apocalypse Now might be [...]

A Good Day to Do Something Else

2021-02-25T14:32:59-06:00February 25th, 2021|Afternoon Commentary, Commentary|

Session Summary: Over the decades I’ve often joked there are days to turn off the quote screens and find something else to do. Particularly if it’s nice outside, and according to a post I saw about Kansas weather, temperatures have [...]

Points of Interest

2021-02-25T05:52:24-06:00February 25th, 2021|Commentary, Morning Commentary|

Morning Summary: At first glance, Thursday morning markets seemed to be a bit calmer than what we’ve seen so far this week, with a couple of exceptions. First, 30-year T-bond futures fell to a new 13-month low of 160-07 overnight [...]

Spring is in the Air

2021-02-24T14:30:19-06:00February 24th, 2021|Afternoon Commentary, Commentary|

Session Summary: Somewhere the birds are chirping, the bees are buzzing, and baseball gloves are popping; all the familiar sounds of spring we look forward to every year. Markets, almost regardless of sector, are in the swing of spring with [...]

Another Spring-Like Day

2021-02-24T05:42:45-06:00February 24th, 2021|Commentary, Morning Commentary|

Morning Summary: Commodities in general continue to live in a world where every morning (or so it seems) brings more green. Just like spring. Similar to Tuesday morning, the oilseed complex led the way higher once again with soybeans and [...]

More Big Moves

2021-02-23T14:22:45-06:00February 23rd, 2021|Afternoon Commentary, Commentary|

Session Summary: Tuesday was another day of big moves, with the only difference being which markets were most active. Where the energy complex ruled Monday’s session, the oilseed complex was the star Tuesday. Here we saw soybeans rally as much [...]

A Different Oil Leads the Way

2021-02-23T06:01:37-06:00February 23rd, 2021|Commentary, Morning Commentary|

Morning Summary: The story Monday afternoon was crude oil’s 4% rally to start the week, though canola wasn’t far behind when the final bell rang. As Tuesday gets underway, the oilseed complex is roaring higher once again with canola up [...]

The Rally Continues

2021-02-22T14:32:12-06:00February 22nd, 2021|Afternoon Commentary, Commentary|

Session Summary: It was another big day in the commodity sector, led by an impressive 4% rally in crude oil. Here we see the spot-month contract hitting a high of $61.84, quickly looking to erase last week’s bearish reversal on [...]

Animal Crackers

2021-02-21T10:58:59-06:00February 21st, 2021|Commentary, Weekly Column|

A look at the calendar shows North America has one more week of winter before meteorological spring begins on March 1. A year ago at this time, the world was just waking to the realization of a potential pandemic, paving [...]

Time for the Weekend

2021-02-19T14:24:07-06:00February 19th, 2021|Afternoon Commentary, Commentary|

Session Summary: Friday saw a lot of market movement though little changed when all was said and done. The US dollar index was lower, but never threatened to extend its selloff, keeping a lid on a potential rally in metals. [...]

Back in the Office

2021-02-19T06:07:35-06:00February 19th, 2021|Commentary, Morning Commentary|

Morning Summary: Good morning everyone. I am back in the office and appreciate your patience while I was on the road this week. Fortune smiled on me as the weather, while cold, was cooperative for a quick trip up to [...]

Mixed Markets Midweek

2021-02-17T14:47:32-06:00February 17th, 2021|Afternoon Commentary, Commentary|

Session Summary: Wednesday’s session saw mixed results with some sectors posting solid gains (energies), some solid losses (livestock), and most everything else mixed. Let’s start with the US dollar index that posted a solid rally, following up Tuesday’s short-term bullish [...]

Cold as Ice

2021-02-17T05:55:47-06:00February 17th, 2021|Commentary, Morning Commentary|

Morning Summary: It’s another cold morning across most of North America again Wednesday, with sub-freezing temperatures once again stretching south to the US Gulf Coast. But here’s the funny thing, as cold as it is this morning, it feels warm [...]

Red Hot Markets

2021-02-16T14:33:07-06:00February 16th, 2021|Afternoon Commentary, Commentary|

Session Summary: The commodity sector was interesting again Tuesday as most markets stayed red hot despite the stronger US dollar index. Starting with the greenback, the daily chart is showing a bullish key reversal indicating the short-term trend could be [...]

One for the Road

2021-02-15T08:50:41-06:00February 15th, 2021|Commentary, Weekly Column|

I spent this past weekend putting together a market presentation I’ll be giving, in person, in Hutchinson, Minnesota later this week. As I was working, it dawned on me to go back and look at the last time I was [...]

Another Step Closer to Spring

2021-02-12T16:13:47-06:00February 12th, 2021|Afternoon Commentary, Commentary|

Session Summary: We can close the book on another week, the second week of February, meaning there are only two weeks remaining until March 1 and the start of meteorological spring. Regardless of what Punxsutawney Phil said earlier this month. [...]

CoT Corn: Hanging On

2021-02-12T15:21:54-06:00February 12th, 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 6,082 contracts, putting it at a total of 522,432 contracts as of Tuesday, February 9. Included in this was an increase [...]

Happy New Year, Again

2021-02-12T06:08:34-06:00February 12th, 2021|Commentary, Morning Commentary|

Morning Summary: Friday morning is the start of Lunar New Year, a holiday observed by the world’s largest buyer of commodities – China. A few minutes of research tells me that by the Chinese calendar, 2021 is a Year of [...]

In the End

2021-02-11T14:25:21-06:00February 11th, 2021|Afternoon Commentary, Commentary|

Session Summary: When all is said and done, the only thing for certain is that it’s over. The grain and oilseed complex was interesting in the respect that soybeans had outshone corn for much of Thursday’s session, right up until [...]

Scattered Thoughts

2021-02-11T05:54:59-06:00February 11th, 2021|Commentary, Morning Commentary|

Morning Summary: Thursday is one of those mornings when no clear market thoughts come to my head. The dust has settled from the day before, and now we wait for the next sunrise. Then the one after that, then the [...]

Bingo

2021-02-10T14:42:20-06:00February 10th, 2021|Afternoon Commentary, Commentary|

Session Summary: A common question Wednesday was, “What happened to corn and soybeans?” As always, there are countless reasons “why” markets do what they do, but a couple of simple ideas is that Tuesday’s USDA report did not fill the [...]

A Mixed Midweek Morning

2021-02-10T05:51:50-06:00February 10th, 2021|Commentary, Morning Commentary|

Morning Summary: it almost seems as if commodity traders took the night off after what has already been a volatile week. On the green side of the screen we find the usual suspects: Energies were mostly higher with both crude [...]

Richard Marx Was Right

2021-02-09T13:51:31-06:00February 9th, 2021|Afternoon Commentary, Commentary|

Session Summary: The best way to think about Tuesday’s round of USDA monthly Supply and Demand reports is to remember what Richard Marx told us, “It don’t mean nothin’”. I’ll go into each of the grain markets individually, but the [...]

More of the Same

2021-02-09T05:53:45-06:00February 9th, 2021|Commentary, Morning Commentary|

Morning Summary: Not much changed overnight, except for US stock index futures were showing small losses rather than their usual gains. Otherwise, the US dollar index was back under pressure, extending the short-term downtrend I talked about late last week, [...]

No Bears Anywhere

2021-02-08T14:14:55-06:00February 8th, 2021|Afternoon Commentary, Commentary|

Session Summary: Commodity market bears are in hibernation, allowing bulls to run free across the sector. Monday was a great example, for no matter where you looked you could see a market making a big move. Energies? Distillates rallied 1.8% [...]

People Get Ready

2021-02-07T10:09:22-06:00February 7th, 2021|Commentary, Weekly Column|

“There’s a train a-coming…” One of the hot topics this past week was news that the CME Group had announced its plans to increase “both spot-month and all-months combined speculative limits effective March 15.” (National Grain and Feed Association Newsletter; [...]

CoT Corn: A Pause

2021-02-05T15:07:41-06:00February 5th, 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 19,163 contracts, putting it at a total of 528,514 contracts as of Tuesday, February 2. Included in this was a decrease [...]

CoT Cotton: Too Soon

2021-02-05T14:53:52-06:00February 5th, 2021|Commentary, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders decreasing their net-long cotton futures position (blue line) by 4,321 contracts, putting it at 73,905 contracts as of Tuesday, February 2. Included in this was a decrease [...]

A Fitting End to Groundhog Week

2021-02-05T14:28:50-06:00February 5th, 2021|Afternoon Commentary, Commentary|

Session Summary: A look across the commodity sector landscape shows wide price swings galore, with cotton again in the spotlight. After rallying more than 3.0 cents Thursday the nearby March contract fell 1.67 cents at Friday’s close on renewed commercial [...]

Calm Before the Storm

2021-02-05T06:01:58-06:00February 5th, 2021|Commentary, Morning Commentary|

Morning Summary: The grain and oilseed sector was mostly higher overnight in generally quiet trade. However, the talk of Thursday afternoon was the coming change in position limits for the various markets, setting the stage for what could be an [...]

Another Wild Day

2021-02-04T15:09:26-06:00February 4th, 2021|Afternoon Commentary, Commentary|

Session Summary: A number of markets posted wide trading ranges again Thursday, with cotton stealing the spotlight. Here we see the March issue closed 3.29 cents higher, gaining 0.13 on May and 0.28 on July, indicating strong support from the [...]

Go to Top