Friday April 9th USDA Production / Supply / Demand
11 am CDT
Corn 91.1 acres Trade Est. 93.1
Beans 87.6 90
Surprise / Bullish
Right now on breaks new crop Corn and Beans will find support. Trade vol will be for July and Dec. Corn and July and Nov. beans going forward. MHO we could see 5 million more acres come into production.
Eye opening stats / Bull spreaders running out the door
July Beans plus 5.50 cents for the week
July / Nov bean spread down 51 cents for the week
July corn plus 9.50 cents for the week
July / Dec. corn spread down 8.50 cents for the week
The weeks ranges:
July corn / July Beans / Dec. Corn and Nov. Beans made there 4 week Highs and 4 week lows
4 week avgs.
CK 558 CN 542.25 CZ 471.25
WK 628 WN 622.25
SK 1412.25 SN 1401.50 SX 1234.50
Monday after the close margin increases take effect
Possible more risk off???
Hogs made new Highs and no technical indicators that could turn this market YET. My June hog target is up around 113-114 mho.
Please call with questions