May 2021 Editors Comments

Thursday, 01 April 2021 04:34 Melissa Moore
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Special Historical Reports

MRCI publishes a new round of volumes in its series of special reports each year!

Hottest off the press:

2021 Historical Soy Complex: this 173-page volume features seasonal analysis of soybeans, soymeal, and soyoil; seasonal patterns weekly charts for each delivery month and several spreads, including crush and product spreads; with 128 seasonal and spread strategies for year-round trading ideas.

Recently published:

2021 Historical Grains: this 174-page volume features seasonal analysis of corn, oats, and CBOT, KC, and MGE wheat; seasonal patterns and weekly charts for each delivery month and several spreads, including inter-market spreads for corn/oats, corn/wheat, and among the several wheats; 122 seasonal and spread strategies.

2021 Historical Live Cattle/Feeder Cattle:   this 148-page volume features seasonal analysis of both live and feeder  cattle; seasonal patterns and weekly charts for delivery month and  several spreads; cash & basis charts; historical daily charts; 66  seasonal and spread strategies.

2021 Historical Lean Hogs/Hogs vs Cattle Spreads:   this 126-page volume features seasonal analysis for lean hogs and for  spreads between lean hogs and live cattle; with seasonal patterns and  weekly charts for each delivery month and several spreads; historical  daily charts; and 46 seasonal and spread lean hog strategies and 30 for  hog vs. cattle spreads.


Physical Commodities

Correction?  Consolidation?

After making a significant low last October below 143, the CRB Index marched steadily higher.  In January it closed 31 points higher than that.  With energies leading the way crude oil above $67! and corn and soybeans driving higher and metals still elevated, the Index traded more than 53 points above its October low before closing February over 190.

The Index stalled in March, unable to make a new high in conditions considered overbought by oscillators, such as the weekly RSI over 80 and the daily over 90.  The latter ended March near 50.

So, is that all there is?  Corn planting begins in April, with soybeans right behind.  After the USDA estimated surprisingly low planting intentions for both crops, the first several deliveries for each closed locked limit up on 3/31!  Will crude oil find support after a $10 correction?  Gasoline usage will now rise.  Did natural gas make a bottom?  Will a global recovery drive copper to new highs?  What about gold and silver? Both rallied on 3/31. Are they in a large-degree correction, and is it complete?  If so, what does that suggest for future prices?

Will a flood of US dollars drive a solid economic recovery in which commodities are in great demand?

What else can you do but ...

Trade 'em,

Jerry Toepke

 


Last Updated on Thursday, 01 April 2021 04:40