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This is John Kleist, of Kleist Ag Consulting, You've heard me report on Agricultural commodity markets for years either over the radio or at seminars. Late January, KMIT hosted a seminar in which I spoke to nearly 300 attendees. The biggest concern was either an inflationary runaway in grains or a economic collapse due to high U.S. debt levels and a continuing recessionary condition both here and abroad.
As a special offer to KMIT listeners, I am offering a free two-week subscription to my daily commentary that includes: pre-opening calls (not just due to the overnight trading but WHY); early factors influencing the grains and livestock; daily chart analysis; trade recommendations as well as hedging recommendations; vital economic news; and weekly reports of how the funds, and the index funds, are positioned; and all special reports. Forewarned is forearmed in dealing with the markets.
Email me today for a free two-week trial @ johnwkleist@sbcglobal.net.
CLOSING AG COMMENTS
02-02-12
LIVESTOCK
Cattle:Modest losses in a slow trade. A lack of fresh news; a lack of cash cattle trades; lower midday beef; and this morning's weak weekly beef export sales report kept the market on the defensive.
Hogs:Moderate losses here also backgrounded by early interior markets opening lower; pressure on the pork trade (by the way, did see 22 loads of hams for exports); lack of buyer interest on a higher U.S. dollar.
GRAINS & OILSEEDS
Corn:Slightly higher close in a give and take session. Underlying support came from a solid weekly export sales report and what I suspect unwinding of wheat/corn spreads; upside limited by better reported crop conditions in South America and negative 'outside market' influences.
Soybeans:Narrowly mixed close in choppy, two-sided session. A shallow, early rally ran out of steam likely on a poor weekly export sales number. Then, more favorable South American weather and Taiwan buying Brazil overnight seemed to prompt profit taking from yesterday's gains.
Wheat:Lower to moderately lower as the market unwinds overbought technical’s as well as unwinding wheat/corn spreads. Additionally one forecaster says the 'worst is over' for the freeze in Russia; India again estimates a record high crop; and weekly export sales show signs of cooling off.
GENERAL COMMENTS
None
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Disclaimer: Trading optioncs and commodities involves risk of loss and my not be for every investor. Past trading results may not be indicative of future performance. Although information and opinions provided herein are compiled from sources believed reliable, the sender, EBOT Trading, or its principals cannot attest as to accuracy or assume any responsibility for any errors or omissions as the information may not be complete or events may have changed.
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