Friday 22nd Cattle on Feed Report
Last Trading Options (Feb.) grains
Corn / Stocks to use 10.6% that’s a 7 yr. low
Beans / Stock to use 4% possible 2nd lowest on record?
Early marketing word for 2021
Mexico bans GMO corn imports for livestock feed
Russia export tax is going to be Higher than expected (supports Wheat prices)
Arg. lifted there limit on corn exports
Have we gathered and priced in the BULL News??
Open interest lofty levels we haven’t seen in 7-8 yrs.
BEST income in 7 yrs. for US producers. After gov’t checks accounted for nearly 40% of total income.
March corn : 512-575
March soybeans 1375-1450 Possible High area for front month beans 1560
Dec. Corn / Nov. Soybeans ratio 2.603
July / Nov. bean spread 4 week avg is 184
IMHO NEW CROP prices are profitable make 20% sales NOW.
Social Media has not stop ya from calling me with questions. Please continue to do so.