Lean Hogs have been in a free fall since mid and late April dropping a total of almost 17%.  Late last week LH closed higher on back-to-back days for the 1st time in the past 30 trading days.

Seasonality is turning positive for Cotton and I considering a long Cotton butterfly spread for early next week. Robusta Coffee is in a seasonally positive phase through most of June and doesn't turn...

Heating Oil peaked at a 17.1% carry yield in September 2023. It has also had a steady decline from a short-term peak of 13.3% in February of this year into negative territory.

Brent Crude finished May at its lowest hedge fund positions for the past 52 weeks. On Tuesday the estimated fund positions dropped further to 115,727 long contracts and is now over 225,000 from the peak...

Sugar is well of the highs from this time last year. Hedge funds were net long 226,622 in late June last year and are now short (50,912) contracts. This is a massive range of over 277,000 contracts.

Heating Oil is hovering above the lows from late last year.  Heating Oil has also formed 2 bullish divergences where the Relative Strength Index has increased while prices have decreased.

The recent price movements in Gold and Silver mainly seem to reflect a consolidation of gains rather than a failure to sustain a breakthrough. I anticipate these trends will continue. In contrast, Copper...

Copper successfully surpassed the overhead resistance by the end of the week on May 17. However, this week saw a decline of (5.5%) in Copper's value, failing to sustain the breakthrough. On the lower right...

Cocoa had a huge run up in the first 4 months of the year and spread prices across the board are inflated. I expect to see continued contraction in the carry yield which will benefit “sell” calendar...

In reviewing the charts of the markets I often trade, it's evident that Heating Oil has decisively broken through the bottom of its wedge pattern, whereas Gold has established a classic "cup and handle"...