So far, an early harvest yield trend has not yet been established.
Read MoreWe remain skeptical of sustained strength in gold and silver with the markets generally relying on a single force of weakness in the dollar.
Read MoreWe see the April through late May downtrend resuming after a slight post PPI report bounce. We see short selling pricing in September bonds at 127-09 and at 113-10.
Read MoreTraders are hoping for normal rainfall in the 8–14-day time frame.
Read MoreJuly meal experienced an impressive rally off of Thursday's low but hit significant resistance at 442.10 yesterday, and closed lower.
Read MoreThe key reversal for June hogs is a bullish technical development, but the premium to the cash market is a limiting force.
Read MoreWith near-term demand prospects weakened by stubbornly high inflation, cocoa prices would clearly benefit if last week's "risk on" can continue through the weekend.
Read MoreEven though there have been some positive US economic readings released over the last several weeks expectations for the US nonfarm payroll reading from last month on Friday call for a very small gain of only 181,000 jobs which would be the smallest gain since January 2020
Read MoreShort-term technical indicators are showing extreme oversold readings after the 7-day collapse, but for now, the market lacks the type of supply news to help the market forge a low.
Read MoreThe large discount of June to the cash is a factor which may continue to support.
Read MoreWith a macroeconomic washout pressuring the commodities, the path of least resistance in gold and silver is pointing down.
Read MoreWeather delays may account for the lower than expected Center-South crush, which means that additional cane may be processed during April and boost their near-term supply.
Read MoreObviously, the bull camp needs inflation to moderate for economic optimism to expand and inflate future energy demand expectations further.
Read MoreOur review of the USDA’s Supply & Demand report released on April 11, 2023
Read MoreThe bias is up but we suspect investors will be hesitant to chase prices ahead of a possible volatility event tomorrow.
Read MoreThere could be a silver lining for equity and commodity markets if the US Fed in the coming meeting decides to pause its rate increases.
Read MoreWe leave the edge with the bear camp as the 2nd day of US Federal Reserve Chairman testimony to Congress is likely to reiterate the need for a higher terminal US interest rate.
Read MoreThe longer-term fundamentals are still supportive as beef production continues to tighten and weights remain much lower than normal.
Read MoreThe path of least resistance is up but macroeconomic sentiment is barely holding sway against residual concern generated by the sharp February washout.
Read MoreWhile the market seems to have the weather outlook to expect further gains, the sharp drop in open interest recently might suggest a long liquidation selling trend.
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