3-17-19

Last weekend comments I said I was long and wrong in corn. That I would pray to the Grain
Goddess. Thank you for answering my prays.

Still long.

Near record fund short position in Corn.
Near record long position in Cattle
China rumored to be buying 3 mmt of corn
Floods (wettest Corn Belt profile in the last 127 yrs)
IF wet weather into spring planting imho we will see
more PP (prevent planting acres than last yr).

Planting est:
Informa
Corn 91.8
Beans 85.5
Wheat 46.7
Allendale
91.4
84.2
Wheat 47.4
FC Stone
90.4
87.7
Weather will have some say as always every yr.
June Cattle put in a 4week High and Low this past week
Hogs very impressive with China buying
Flooding plus Hog rally help the move up in cattle.

Corn Res: levels
Weekly Corn gap
389.75-390.75
May Res:
375 and 377.75 and 383 and 391.50-392.50
Hope there might be some buy stops (more funds short covering)
over 378.

Short comments toady
The wife is Irish and it’s her day.
God help this Italian guy..