Commentary: LIVE CATTLE The cattle opened lower today. The close was locked limit. Look for follow through. The expanded limits after yesterdays close did not help. The talk of discount to cash means little to the market. It should be remembered that it has rarely of late. The weights remain high during a difficult time. The consumer is spent after restocking. …
Corn Commentary
Commentary: The corn story is consistent. Overall weakness is due to plenty of supply. Increased by the failing ethanol process. This is a key fundamental and will take a bit to turn. The USDA planting intentions yesterday are overstated IMO. This is a long term market consideration. The near term will be plagued by the demand destruction. The positives are …
Soy Update
Commentary: The soybeans witnessed a lower trade today. The market is under pressure for a couple reasons. The overall demand remains weak for exports. This is due to the Brazilian exports of approx 13 mmt during March, a record. The main destination is China. The USDA numbers yesterday showed a larger carry than anticipated. This could prove important, and could …