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Soybean meal monthly nearby. (chart as of May 25, 2016)
Grain Markets, Livestock Markets, Markets

Drozd: Two-month reversal forewarns livestock producers to higher meal prices

The meal market was technically oversold which created the opportunity for a short covering rally

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Sometimes it just does not pay to ignore what the charts are telling you. Case in point, soybean meal futures exploded higher after a two-month reversal materialized on the monthly nearby futures chart. This reversal pattern indicated a change in trend and is illustrated in the accompanying chart. Since its development on March 31, the
Drozd: Anemic corn market showing signs of life
Cereals, Markets

Drozd: Anemic corn market showing signs of life

Price improvements are coming despite anticipated large ending stocks for 2015-16

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Corn futures at the Chicago Board of Trade rallied to a nine-month high in April 2016. The 55-cent-per-bushel gain may have come as a surprise to some market participants, given USDA is forecasting global corn ending stocks to be record large in 2015-16. However, there were signs the market had stopped going down, at least
Canadian dollar monthly nearby. (chart as of Dec. 28, 2015)
Crops, Markets

Drozd: Canadian dollar falls to an 11-year low

There are advantages and disadvantages for agriculture

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The Canadian dollar continues to erode on the heels of falling commodity prices. A year ago, the Canadian dollar was 86 cents against the American dollar. Today it is closer to 72 cents U.S. The weakness in crude oil and gold have contributed to the collapse of the loonie. Canada is a country rich in
CME Lean Hog Weekly nearby (chart as of Oct. 28, 2015)
Hogs, Markets

Drozd: Reversal pattern alerts producers to downturn in lean hog market

The hog market took four years to climb, but only nine months to fall back

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Lean hog futures have been on a slippery slope since the bull market rally ended in July 2014. The nearby futures contract went from a historical high of $133.875 per hundredweight to $57.775, losing 57 per cent of its value in only nine months. To put the enormity of this collapse in perspective, it took
(Photo courtesy Canada Beef Inc.)
Beef cattle, Hogs, Livestock, Markets

U.S. livestock: Wall Street surge rallies CME live cattle

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Chicago | Reuters — Chicago Mercantile Exchange live cattle futures rose on Thursday, prodded by the stock market comeback as data showed better-than-expected second-quarter U.S. economic growth, traders said. Renewed consumer confidence in the economy could support demand for U.S. goods, including meat, they said. Short-covering and bargain hunting furthered CME live cattle market advances
oats market graph
Cereals, Markets

Drozd: Oat market hammers out a bottom

Bottoming action is evident in the December 2015 oat futures market

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A hammer materialized on the December oat futures chart on Monday, April 27, 2015. Hammers are reversal patterns that appear at market bottoms on candlestick charts and are bullish, as they are said to be “hammering out a bottom.” The hammer represents a period in the market where an intraday sell-off is met with strong
hog prices chart
Hogs, Markets

Lean hog futures plunge to a six-year low

Market Outlook: What was first seen as a downward correction was a longer-term trend

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Lean hog futures have lost 57 per cent of their value since prices peaked at a historical high of $134 per hundredweight on July 15, 2014. As always, the news was incredibly bullish at the top. Expectations for higher hog prices ran rampant, as the industry was concerned about the PED virus outbreak and the
Live cattle weekly nearby: Chart as of Jan. 28, 2015.
Market news, Markets

Key reversal alerts livestock producers to recent downturn

Technical analysis has the ability to cut through the news and see opportunities

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Live cattle futures plummeted $23 per hundredweight after turning down from a new historical high in late November 2014. As always, the news was incredibly bullish at the top, so some livestock producers may have been caught off guard by the sudden drop in prices. However, producers who study charting and technical analysis may have
Grain Markets, News

CME pares back grain trading hours

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CME Group Inc. said March 5 that it plans to pare its nearly non-stop trading cycle for grains and oilseeds to 17-1/2 hours per session after traders complained a move to extend activity had hurt liquidity. CME, owner of the Chicago Board of Trade, sought to shorten the trading day less than a year after
Crops, Grain Markets

CME expects volume to return in time

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Reuters / CME Group’s plan to scale back its trading day for grain contracts will likely provide a boost to volume and liquidity, but traders said it will take time for investors to return to the market. “I think if they compress the hours again… it serves the needs of the customers who actually use

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