Friday the 22nd
Cattle on Feed and
Last Trading Day Nov. options
Another USDA report out of the way. Trend is crops getting bigger.
Carry out growing. Both negative.
BUT Could we have seen harvest lows last week. Possible and time will tell. Looks like a nice week of harvest and we shall see if the lows hold. The positive news on the break was we booked some corn and soybeans.
Just some factors to watch:
- China / Evergrande
- S.A. weather and plantings
- US Dollar
- Inflation (which is not going away soon)
We have seen S.A. farmers hold on to crops because of inflation, can the and should the US farmer do the same?? Basis should then get stronger down the road.
Corn watch 200 day ma. Dec. Corn did close under the 200 day but they came back and closed above it.
4 week avg
Dec. corn 527.50 and Nov Beans 1240.75
Please call with any questions you way have.