MARCH WHEAT It in my opinion it appears MARCH Wheat can potentially rally back to 560 a bushel. Technical support and a breakout, aided by bullish crop reports indicating too much rain after a dry period and an under size crop with a substantial draw on supply . Exports are also helping as Asia and the Middle East are in …
Finally Finished
It’s over!………………..At least we hope that we can close the book on the election of 2018 by tomorrow morning. Now we can refocus on fundamentals and the USDA crop reports issued on Thursday and the potential for resolving trade pacts…………………………………Analysts and traders might be anticipating a reduction in production for corn and beans from the September …
Livestock Report
Cattle markets broke down through the lower end of their trading ranges on Monday, November 5, 2018. December Live Cattle traded below the October 12th low at 116.025 and broke down to support at 114.65, making the low at 114.35. It bounced from here and settled at 115.325. If settlement holds on Tuesday a test of resistance at 116.55 is …
AG TIME – Report Week
The USDA will release estimates this week. The average guess appears to be looking for a bit of a reduction in yield, due to the wet weather. Perhaps this will be the case. It is irrelevant. The beans are so plentiful. It is my thought that the most important aspect of the soy complex today will be the meeting between …
Almost Over!!!
On election day it’s always wise to remember Willie Sutton and his reply to the question as to why he robbed banks…………………………..”that’s where the money was”!…………………………………………………………………………It’s always interesting to see how some go into political office destitute and leave the public sector well-heeled……………………………………………………………………Elections have consequences and we will deal with the results as soon as they are known and …
Grain Spreads: Voices
We mentioned on Tuesday (10.30) that news on trade with China could enter into the market at anytime in the form of a tweet or other social media forum that could prop up grains at a moments notice. We witnessed just that yesterday from the President. If only our predictions resulted in guessing the correct Power and Mega ball numbers. …
AG TIME ON AGAIN OFF AGAIN
The talk of the US and China talking is supporting beans. this is a selling opportunity in my opinion. Look at sales anywhere close to 900 basis jan. The nov 19 above 920 presents opportunity. Private analysts are now estimating next years bean acres to drop in a large way. The carry is still projected record large. The USDA baseline …
New Reality Coming on Wednesday??
The market is jittery as rumors and innuendos over a Chinese trade deal have sparked short covering and end user buying interest and there’s confusion and doubt over a deal and the timing thereof as political posturing has one side coloring the pact as “not a done deal”. It’s difficult to predict the whims and …
AG TIME – and the Hits Just Keep on Coming
I want to preface today’s post saying that, we all are entitled to our opinions in the market. No question about that. In addition, we all are wrong. The markets are difficult. Certain things I am reading are causing me some serious questions. Today we rallied due to the fact that the President has scheduled a meeting with the Chinese …
Hope for a Trade Agreement
As we head into the weekend before the midterm elections there appears to be a cautious attitude towards the grain markets as the results might sway and determine shifts in trade policies and, the talking heads are unsure of projecting any outcome and that’s a good thing given their recent results………………………………….On Wednesday we may be in gridlock or we may …