Agriculture

The market softened up yesterday on the delay of a potential Phase-1 trade deal. The market has tried to claw back some of those losses this morning on headlines that the US and China have come to an agreement to roll back tariffs.
Corn futures continued to bleed lower yesterday, marking the fourth consecutive lower close. Harvest pressure and concerns over dismal demand continue to be a thorn in the side of the bull camp.
December lean hogs managed to breakout above the top end of the recent range on the back of demand firming up. The bulls need to see follow-through buying while defending support.
December corn futures were softer to start the week as the lack of bullish headlines coupled with harvest pressure was too much for the bulls to overcome. Crop Progress was released after the close, showing corn conditions unchanged at 58% good/excellent.
Every minute of every trading day, trading signals are assessed on a portfolio of 30 futures markets and tracked in a very high level of transparency and accountability.
January soybeans were under pressure in the first half of last week’s trade on the cancellation of this month’s global summit in Chile, due to protests in Santiago. Both sides seemed hopeful that they would have been able to sign a Phase 1 deal at the summit.
Chicago wheat took a hard hit yesterday, much of what was likely technical selling. Export sales yesterday morning came in at 493,800 metric tons, up 31% from the 4-week average.
Every minute of every trading day, trading signals are assessed on a portfolio of 30 futures markets and tracked in a very high level of transparency and accountability.
January soybean futures were a laagered yesterday as optimism around a phase-1 trade deal diminished after the Summit in Chile was canceled, due to protests in Santiago.
The Live Cattle market has been overbought for the better part of the last two and a half weeks and there’s no real sign of it ending.