Monday 17th NOPA Crush
Friday 21st Cattle On Feed
Big moves down
Sell the fact after USDA Report
Now it’s all about weather and acres
USDA using 91.1 corn acres. Trade saying more than that.
We should be higher on both but won’t know until the June Report.
Informa came out with acreage
Corn 96.8 vs. 91.1 and Beans 88.5 vs 87.6
Missed that party Informa was at. Must have been great booze or some very special smokes.
(1) Conab est for Brazil corn 106.4 vs. down from 108.9 ( bear pressure)
(2) Bridge “crack” effect Barge Traffic?? (bear pressure)
(3) Weather maps / warm and some rains (bear pressure)
(4) Dec. Corn gap at 480.75-477.50
(5) Day of USDA report we were at the top end of ranges (funds take some risk off)
We rode too High and now we will roll too Low
Tops in only Mother Nature knows.