March 22, 2017 - Author: Ken Morrison
This afternoon's cold storage report is probably not a market-mover with month-over-month changes in line with seasonal tendencies. Read More...

March 21, 2017 - Author: Ken Morrison
I can think of more reasons why U.S. beef will not be called upon to replace Brazilian beef than compelling reasons why it will. Read More...

March 20, 2017 - Author: Ken Morrison
The next 10 days USDA will release 5 reports, any one of which can move the crop or livestock markets. Read More...

March 18, 2017 - Author: Ken Morrison
Professionally money-managed funds set several records for money-flow activity in the week ending March 14. Indicative of their convictions, @ 50% of it was initiating new short positions. Read More...

March 15, 2017 - Author: Ken Morrison
Allendale says boxed beef values topped out on an interim basis March 16, 2016 and April 3, 2015. We found the same to be true for Cattle futures. It's something to keep in mind considering boxed beef has been in rally-mode for @ 30 days and $32/cwt. Read More...

March 14, 2017 - Author: Ken Morrison
Despite lower closes in a number of markets I was encouraged by the intra-day price action based on the successful test of support levels. Upside follow through Wednesday would stabilize sentiment and price. Read More...

March 13, 2017 - Author: Ken Morrison
The recent climb in boxed beef values ranks among the 3-4 fastest, strongest rallies over the past 3 years. Some of the same factors driving prices may be similar to the rally in pork bellies seen in January and February. Read More...

March 11, 2017 - Author: Ken Morrison
It was perhaps the worst P & L performance by hedge funds since the oil decline of 2014 as near-record long positions were dealt a $4+ decline in Oil. But other market-generals also were taken captive. Read More...

March 9, 2017 - Author: Ken Morrison
The implications of the trend toward larger South American corn production acknowledged by USDA's forecast today won't be fully understood until USDA issues their mid-May forecast for 2017/2018. Read More...

March 8, 2017 - Author: Ken Morrison
Oil and oil-products set the negative tone for most commodities today. We also review expectations for U.S. soybean and corn exports the remainder of the year in advance of Thursday's USDA report. Read More...

March 7, 2017 - Author: Ken Morrison
Richard Dennis, a famous and successful commodity trader in the 70's and 80's, conducted a real-life experiment to prove succsessful traders can be taught disciplined methods for trading commodities. Read More...

March 6, 2017 - Author: Ken Morrison
Market generals, the markets that always seem to shrug off bad news, are important to overall market sentiment. But we see deterioration in 3-4 of these market leaders indicating increasing downside risk. Read More...

March 4, 2017 - Author: Ken Morrison
Tuesday's knee-jerk reaction to rumors and innuendo indicates the degree market participants are yearning for better news even if it proves to be unfounded. Read More...

March 2, 2017 - Author: Ken Morrison
It was a day of across the board weakness with fundamental contributing factors from multiple directions. Read More...

March 1, 2017 - Author: Ken Morrison
We illustrate the trend in exports for corn and soybeans indicating global consumers are making the transition to alternative sources. Read More...

February 28, 2017 - Author: Ken Morrison
Headline risk, unexpected market-moving news, is risk for some and opportunity for others. Having a critical eye for credible information with a dose of skepticism can be a good antidote to navigate and seize opportunities. Read More...

February 27, 2017 - Author: Ken Morrison
Highlights of last week's USDA Ag Forum, said to be a somber-tone, reflects on the global supply and demand outlook and longer-term growth prospects. Read More...

February 26, 2017 - Author: Ken Morrison
Hedge funds continue their love affair with Oil setting yet another new record for net long. But the field may be reaching a point of imbalance as indicated by the ratio of long/short positions reaching levels similar to mid-2014 when Oil prices peaked and the last time funds held a record long position. Read More...

February 23, 2017 - Author: Ken Morrison
Pork belly inventory in cold storage hit a record low for January after doing likewise in December. It's not supposed to happen like this, a time when pork bellies are re-stocked for the coming summer BLT season. Read More...

February 22, 2017 - Author: Ken Morrison
The past few weeks have seen a shifting of market leadership with increased money flow into markets previously thought to be 'dead money' and out of the former leaders. Read More...

February 21, 2017 - Author: Ken Morrison
Despite reduced refiner capacity, U.S. demand for gasoline continues to see gasoline inventories grow. With over 31 days usage, the highest in 22 years, the gasoline glut threatens to disrupt the transition to summer-blends that will get underway in earnest by April 1. Read More...

February 18, 2017 - Author: Ken Morrison
Professional money managers were far more aggressive buyers of corn, wheat, and soybeans recently than estimates indicated. It explained the surge in corn open interest that was compounded by producer selling also creating new open interest. Read More...

February 16, 2017 - Author: Ken Morrison
By any measure optimism has surged since the U.S. election yet it's unclear from recent surveys what is driving the high expectations. We drilled down, through our own survey, benefits and concerns expected by a number of people. Read More...

February 15, 2017 - Author: Ken Morrison
The GOP House-proposed border adjustment tax would radically change corporate tax structures focused on taxing imports and exempting exports. Proponents assume a 20% rise in the value of the Dollar, clearly a headwind for U.S. agricultural producers and exporters. Read More...

February 14, 2017 - Author: Ken Morrison
Although many have concerns about possible changes to the RFS mandate, it's important to have a perspective on the outlook for U.S. gasoline demand. Read More...

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