A brief dive into Live Cattle, Soybeans and Bean Oil FuturesE

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Markets in a minute today is going to be three markets in 3 minutes to take a deeper dive into three markets that I think had some noteworthy moves on the day. Those markets were Jan soybeans, March Bean Oil and Feb live cattle.

Soybeans January 19 up $0.04 today going out around $9.19. I think it's significant because we were able to swing into a new swing high today. Recent swing high was back on the 3rd of December @ 923 ¾, today we took that out & got up to 928.  This is significant because we were able to climb into new highs. Basically this is kind of telling me that there seems to be some confidence at the moment that the Chinese are going to make some sort of sales announcement. In the near-term plenty of rhetoric revolving around that circumstance so at the moment it seems like the markets holding on to that. The other thing that is kind of interesting is the USDA report that came out yesterday was construed as mildly bearish, yet the market took that information and just drove higher. When the market takes bearish news and pops up, that's kind of saying something.

The bean oil Futures Contract Up 3 today to 2924. Not making significant highs because we've been higher just a couple months ago, but nonetheless adding to the gains over the last couple weeks. The market made new highs at about 29.50 after the big recovery out of the 27 1/2 area.

Over in livestock futures the Feb Live Cattle made a new swing high today. We got a new high for this mini move here after coming off the 200-day moving average. The market pushed up about five trading days ago up to 122-55 & fell back a little bit like like its supposed to do, and then we're pushing into a new swing high getting up to 123-00. We are within a stone's throw of contract highs here so it can be really interesting to see what happens in as much as how cash starts to trade which is typically done towards the end of the week. It’s kinda interesting and you know as the Chinese backdrops of a back story there.  I know China's considered the world's top importer of beef with most of the business going elsewhere. Expectations for US exports this year of US beef to China is about 4000 metric tons for 2018. China beef imports in October were about 92,500 metric tons. So we're expected to get about four thousand metric tons of about 92500 metric tons - so in terms of a trade deal and trying to move forward perhaps China might put the word “beef” into some language and I think that's also helping to pop this market up a little bit.

So that is what we have for now  - three markets in 3 minutes. If anybody has any interest in devising strategies on these moves feel free to contact me. Until then we'll leave it there.

Markets in a minute today will be five markets in 5 minutes. I can take a little bit of a deeper dive in 5 markets that I think in my opinion had some interesting moves on the day. For today the five are going to be the Dollar Index, Coffee, Lumber, the British pound, and feeder cattle - so let's get to it.