Every week we think we seen it all, NOT
Monday 23rd. Cold Storage Report
Thursday 26th Hogs & Pigs Report
Since we are home bound you can get FREE real time commodities quotes at Investing.com and click on the top of the page real time commodities.
Corn / Bean ratio 2.369
Planting Intentions est:
Allendale Corn / 94.63 mil. acres up 4.9 mil. Soybeans 83.74 up 7.6
Informa Corn 95.2 up 6 mil and Soybeans 85.6 up 9.5
When this report comes out on the 31st. remember this was as of March 1st time frame. A lot has changed since then for ALL of us.
China coming back with Lg. manufacturers working at about 90% cap. and Small business at 65%. IF you want to believe.
Corn has now had more pressure on the ethanol demand side. Our usage for ethanol is about 40% of production. The Saudi/ Russia oil war started this mess and we must watch the next 2 weeks if they have an agreement. BUT our domestic usage with lock downs and Flights cutting back all equals less fuel usage.
If there is a need to sell corn imho renown with vertical call option spreads July or Sept. Arlen Suderman made note of rumors China buying and ARG. city with 2 big crushing facilities suspended port operations including incoming and out going trucks. Could be one reason the bull beans spread July/Nov worked well this week. The second reason is it seems SA has been dry and crops are going backwards. China was reported buying 756 k metric tons of Corn. Is more to come??
Cattle we witnessed limit moves everyday the last two weeks, Also we just saw history with cuts up up and away in a week. Think you see it all, NO. Tyson is going to pay $5 cwt live for any cash cattle they bought last week. They never saw dress beef prices move like they did and they say this week prices should be higher again. Cattle on Feed Report to me ho hum. New worries to West Coast farmers is the possibility of short fall Labor with questions of immigrates coming in to work from MX.
Hope and this will pass / God Bless