May 10th Friday / USDA Report
May 14th Last trading day May grain contracts
1) US / China talks (racing to the finish line)
2) Japan / US talks
3) Weather (still wet cool in same acres)
4) PP acres ??
6) Fund Shorts
7) AFS (Hogs / please don’t show up in the US)
Front month Corn unchanged for the yr.
Will be the Res: number for May or July res: number
Dec. corn started the yr at 395
4 week Highs
CK 364.25 CN 372 CZ 391.75
We should imho test those Highs this coming week.
Soybeans/ is there a bottom?
This is what I thought should have been happening a yr. ago
But what help the push is China and there Hog herd, US weather
(less corn more bean plantings) Trade between US / Chan and SA.
has a nice cheaper crop than Us.
From Feb. 23 my price projections for Dec. Corn and Nov. Beans
Dec. Corn Highs 419-429 Lows 342-335
Nov. Beans High 998-1019 Lows 852-840
BUT HOT OFF THE PRESSES
do to the AFS problem in China and Trade talks my new projections for beans
High 981-992 Low 787
Hope that you see drier weather
(water in our basement)