Thursday, April 02

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Livestock @9AM

Jun Live Cattle -1.15@243.20 May Feeder Cattle -2.57@365.43 Jun Lean Hogs -.80@104.38 Jun CAD -.15@72.06

 

📈 @9AM

May Canola +10.10@728.60 Nov Canola +9.50@735.00 May Min +.07@6.49 Sep Min +.08@6.80 May Kan +.08@6.21 May Chi +.07@6.04 May Soy +.03@11.71 May Corn +.03@4.57 May Oats -.04@3.44 CD -.15@72.06 Oil +11.74@111.86 Gold -177.10@4619.00

 

This Weeks Q&A 
Latest on US/Iran and planning sales around the volatility in the market. May basis plans & targets (Use $630-638 Canola & $6.50-6.65 HRS). AUS fuel shortage, India tariff talks, other factors to help prices, wheat vs oats & more! Get Answers Here: gsminfo.ca/qa2250

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📈 CLOSE

May Canola +8.50@727.00 Nov Canola +8.30@733.80 May Min +.05@6.47 Sep Min +.04@6.76 May Kan +.02@6.16 May Chi +.01@5.98 May Soy -.05@11.63 May Corn -.02@4.52 May Oats -.01@3.46 CD -.14@72.06 Oil +11.54@111.66 Gold -127.20@4668.90

 

Livestock Close

Jun Live Cattle +1.98@246.32 May Feeder Cattle +2.63@370.63 Jun Lean Hogs -.70@104.47 Jun CAD -.13@72.08

 

Weekly Livestock Changes

June Live Cattle +7.55@246.33 (+3.2%) May Feeder Cattle +10.80@370.63 (+3%) June Lean Hogs -1.65@104.48 (-1.6%) June CAD -.16@72.08 (-.2%)

 

Live Cattle had a strong week pushing past gaps & contract high on June. Now within 2 cents of all- time high at ~$2.48/lb. Feeders also move toward contract high $3.76/lb & possibly all-time high at $3.81/lb. No chart reversals (sell signals). Market overbought so watching closely!

 

Weekly Oats Summary

May +.04@3.45 (+1%) Back & forth week as futures pulled higher by wheat then pulled back by corn. Net result is prices still hanging around the trendline support at $3.30- 3.40/bu. Need to hold that area on this pullback to keep shot at $3.70-3.80/bu in the picture.

 

Weekly Corn Summary

May -.10@4.52 (-2%) Lackluster USDA info kept futures under pressure this week. Market right at the trendline support $4.48-4.52/bu to end week. Also getting oversold so would be ideal to hold the support and turnaround next week. To keep $4.65- 4.70/bu in play.

 

Weekly Wheat Summary

Min-.01@6.47 Kan-.17@6.15 Chi-.07@5.98 Min held up better to end week. All wheat hit near resistance mid-week but failed to hold strength. Still good S&D info to help keep price supported along trendline. Need to clear this weeks high to extend uptrend by .50/bu.

 

Weekly Soy Summary

May +.04@11.63 (+.3%) Futures holding small range. Helped by crude & bean oil but held back by USDA data and SA harvest. Overall still need to see a hold of support at $11.45/bu to keep flat to higher trend in tact. A move past $11.80/bu can confirm further upside.

 

Weekly Canola Summary

May+6.50@727.00(+1%) Shaky week with both buy & sell signals on chart. Tells me market is a bit hesitant but not necessarily in for any big correction right away. Still see good support above $700/T (breaking that is the big sell signal). And chance to hit $750/T+

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Wednesday, April 01​

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Livestock @9AM

Jun Live Cattle +.20@243.47 May Feeder Cattle -.67@365.80 Jun Lean Hogs +.40@105.45 Jun CAD +.24@72.23

 

📉 @9AM

May Canola -10.10@721.70 Nov Canola -8.30@728.30 May Min -.11@6.47 Sep Min -.12@6.76 May Kan -.17@6.19 May Chi -.15@6.01 May Soy -.10@11.61 May Corn -.06@4.52 May Oats -.04@3.50 CD +.23@72.23 Oil -2.07@99.31 Gold +91.40@4754.10

 

Livestock Close

Jun Live Cattle +1.08@244.35 May Feeder Cattle +1.53@368.00 Jun Lean Hogs +.13@105.17 Jun CAD +.22@72.22

 

📉 CLOSE

May Canola -13.30@718.50 Nov Canola -11.10@725.50 May Min -.16@6.42 Sep Min -.15@6.73 May Kan -.22@6.14 May Chi -.19@5.98 May Soy -.02@11.69 May Corn -.04@4.54 May Oats -.07@3.47 CD +.20@72.20 Oil -1.28@100.10 Gold +94.70@4757.40

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⚡Funds took profit after futures tested near contract high & resistance. No big news/S&D today. Some speculations & spillover from oil. A couple of reversal signs to monitor on charts. No official recs today. Will see how market looks Thursday 5-min recap here gsminfo.ca/quick2250

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Tuesday, March 31

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Livestock @9AM

Jun Live Cattle +.70@240.90 May Feeder Cattle +2.05@363.38 Jun Lean Hogs +.65@106.53 Jun CAD -.04@72.00

 

📈 @9AM

May Canola +3.60@731.30 Nov Canola +3.70@737.50 May Min +.04@6.56 Sep Min +.03@6.83 May Kan +.08@6.34 May Chi +.05@6.12 May Soy +.01@11.61 May Corn -.03@4.53 May Oats +.06@3.57 CD -.04@72.00 Oil +.12@103.00 Gold +60.80@4602.50

 

📊 USDA Stocks

Quarterly corn and wheat stocks are up from last year and just below trades guess. Higher disappearance than last year too. Soy came in higher than trade expected.

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📊 USDA Acres

Less corn swinging to soy than expected. Corn -3% Soy +4% YoY Wheat -3% & lowest on record! Call it a neutral report for corn, slightly bullish report for wheat, and neutral to a touch negative for soy.

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📈 Reaction @11:15AM

Canola +6.40@734.10

Min +.10@6.62

Kan +.13@6.39

Soy +.08@11.68

Corn +.01@4.56

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Livestock Close 
Jun Live Cattle +3.08@243.28 May Feeder Cattle +5.15@366.48 Jun Lean Hogs -.82@105.05 Jun CAD -.03@72.01

 

📈 CLOSE 
May Canola +4.10@731.80 Nov Canola +2.80@736.60 May Min +.07@6.58 Sep Min +.08@6.88 May Kan +.09@6.36 May Chi +.09@6.16 May Soy +.11@11.71 May Corn +.02@4.58 May Oats +.03@3.54 CD -.03@72.01 Oil -1.31@101.57 Gold +138.40@4680.10

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Monday, March 30

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Livestock @9AM

Jun Live Cattle +.68@239.45 May Feeder Cattle +1.00@360.82 Jun Lean Hogs +.95@107.08 Jun CAD -.22@72.04

 

📈 @9AM

May Canola +10.90@731.40 Nov Canola +11.00@738.90 May Min +.01@6.49 Sep Min NC@6.78 May Kan -.04@6.29 May Chi +.01@6.06 May Soy +.10@11.69 May Corn -.01@4.61 May Oats +.04@3.46 CD -.21@72.04 Oil +2.90@102.54 Gold +50.80@4559.40​

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⚡Canola off to good start following big swing up in bean oil. Friday biofuel news is helping prices. EPA raised renewable mandate to 5.4-5.5 billion gallons (+65%) That's huge for veg oil industry. Ground operations in Iran this week & crude showing some indecision at $96-102/bbl.

 

⚡What we are watching on Canola futures:

May - A move above $740/T points to $760/T July- A move above $750/T points to $770(A move above $770/T on May/July would be a very strong signal)

Nov - A move above $747/T points to $770+ Breaking supports at $720/T & $700/T would be bad signs.

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⚡ Wheat is holding steady. Min can extend uptrend with a move past $6.70/bu May & $6.78/bu July. Kan can do same if moves above $6.47-6.58/bu. USDA tomorrow. HRW acres may hit 5-yr low & 6th lowest since 1909 (less HRS/Durum too). Stocks are higher but disappearance/ exports improved too.​

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Livestock Close

Jun Live Cattle +1.43@240.20 May Feeder Cattle +1.50@361.32 Jun Lean Hogs -.25@105.88 Jun CAD -.17@72.08

 

📈 CLOSE

May Canola +7.20@727.70 Nov Canola +5.90@733.80 May Min +.04@6.52 Sep Min +.03@6.80 May Kan -.06@6.26 May Chi +.02@6.07 May Soy +.01@11.60 May Corn -.06@4.56 May Oats +.10@3.51 CD -.19@72.06 Oil +3.37@103.01 Gold +21.10@4529.70