Happy Easter to All!

Markets do trade on Sunday night

CZ / SX ratio 2.365 vs. last week 2.391

Sounds like trade talks are coming to a close with China.

Deal May early June

How about good faith jester and remove some tariffs on AG products.

Cattle on Feed report looks bearish

June cattle closed at an April month High close.

Weekly gap points 124.90 to 126.32 (DTN charts) which there using June contract.

If you want to see something crazy look at there Weekly and Monthly Feeder chart

using  the Aug. Feeder contract.

Funds record short position and winning in grains

Soybeans Front month made a new year 2019 low at 876.50

The Corn low for the yr. is 352.50

Wheat just acts like the Titanic in the grain complex.

USDA says 92.8 mil acres of Corn planted

SD. and ND. are increasing there acreage by total 1.6 mil.

Last year farmers took 1.89 PP acres

5 yr. avg. 3.78

Record PP acres 2011 / 9.61

April Lows / Acreage for that yr. USDA

2016 / 347.25        94 mil

2017 / 357.25        90.2 mil  (this seems like a possible scenario for this year)

2018 / 372             89.1

Weather next week looks warmer but still wet more Eastern Corn belt.

IMHO still long CZ risking a close under 375.

Be Safe!