Mon. 17th Soybeans (NOPA Crush)
Fri. 21st Cattle On Feed
Last Trading Day Nov. Options grains
We are learning come weekends any “seem to be”
BULLISH news out of the Ukraine/ Russia war and
Higher to sharply Higher you can faded that action on Monday’s.
We are at or very near historic prices at harvest. Please take some risk off and you can always re own.
WHY this could become the biggest reason…
“Drought Monitor RECORD: 81.8% of the USA is now abnormally dry, the most in data back to 2000, replacing the prior high of 80.8% from July 2012. However, area covered by moderate or worse drought was higher in 2012.
Fall/Winter/Spring replenishment *critical* for 2023 harvest.”
For the month with Friday’s settlements: changes
Dec. Corn +12.25 cents Dec. Wht -$1.31 Nov. Beans +19 cents
Dec. Oats +7.75 cents Dec Cot. -2.19 Crude oil Nov. +6.11
Cot. Cattle + 3.68 Oct. Hogs +4.15 US Dol. +1.12
We are in the time frame for exports to pickup BUT demand is slacking do to strong Dollar.Possible harvest pressure looking for a harvest low??
Eye balling Monthly Chart and imho possible range
Corn High 721 Low 660-656
Beans High 1440-1460 Low 1345-1339 (note 1339.25 beans are unchanged for the yr)
IMHO IF Republicans win the House and maybe the Senate that could be bearish
Stop the spending MHO
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