The International Grains Council (IGC) has revised its forecast for global grain production in the 2023/24 marketing year downward, citing smaller-than-expected sorghum and barley harvests. While the supply...
Educational and Actionable information using Fibonacci and W.D. Gann analysis.
May Cattle-on-feed lowest in 4 years
Cash markets strong while futures chop around
Jim's exploration of previous growing seasons and their correlations with El Niño/La Niña (vis-à -vis tornado activity)
Corn futures closed mid-range on Friday, settling ¾ to 2 cents higher on the day. For the week, July was up 12 ¼ and new crop December was up 11 3/4. The markets are closed for Memorial Day on Monday....
Soybeans settled 2 to 8 ¾ higher on Friday, with some bull spreading getting nearby July briefly above $12.50. Soymeal was a main reason for the strength, as front month contracts were up $6.70 to $9.80/ton....
The wheat complex went home with mixed on Friday, as profit taking ahead of the Memorial Day weekend nudged the July and September CBT contracts into negative territory. Everything else was up. Chicago...
Soymeal Leads Complex
Many of you already know Patrick Gottsch, founder and owner of RFD-TV, passed this week. Having been affiliated with the Market Day Report and Commodity Wrap, I was able to experience firsthand how important...