First my cattle comment last week was 100% wrong.
Cutouts were strong and led the futures rally.
USDA Report Friday 8th
Let’s HOPE they don’t really think IL. crop conditions did improve 9% last week. HOPE they did resurvey N.D. S.D and MN. after there snow storms and found the crop IS getting smaller. Weather is making harvest wet and longer than the avg’s.
Chile and the APEC meetings has canceled them cuz of unjust in there country.
US China trade agreement that was going to be signed then is now looking for a new location. That was to take place Nov. 17th-18th. Could it be done in Iowa??
Grain markets did well imo for the week. Seem there was more buying the breaks than sellers.
So far Corn higher for the yr. , Wheat higher for the yr and Soybeans higher for the yr. The basis has been doing some good work for you producers.
Look for still some sideways trade this week until we see what the USDA has to say Friday. Then get the phase 1 agreement signed this month and IF weather starts to become an early factor in SA. bears will cover some of those short positions before there hibernation.
Be Safe and WARM