USDA Report / What’s to say
Down 14 for Corn to up 17.50 Friday
IMHO there numbers are still inflated
US / China part 1 deal
*positive until one country screws it up
* need it on paper and signed ( that could be 4-5 weeks from now)
* details Ag section / $40-$50 billion a yr. 2 yrs. 3yrs. who knows
* we should have seen this yr lows for both Corn and Beans
What we do know
* variable yields
*harvest looks to be long
Crop damage out Western areas won’t be know for sometime. BUT one can say we lost some corn and bean production.
Reward the market this week with some catch up sales.
There is no carry in CZ/CH or CH/CN so someone wants corn.
Soybeans: think about selling the carry ( July contract ) and store your beans
We should have nice support on technical breaks now.
Maybe the US Dollar can help us too. (weaker)
I see 2 targets for Dec. Corn 403 and 417
In Nov. Beans its 947-949.25 and 957 and 978.50 and 984-986
Sorry but it’s beans and IF China really wants them who know.
Let’s see how Hogs like the news tomorrow.