Cattle on Feed Report
The placement number was bearish
Could see imho a $2-3 break coming soon.
Thursday the 31st
Last Trading Day for Oct. Cattle and Oct. Feeders
Start of the Year:
Dec. Corn 395.25 Nov. Beans 935.25 Dec. Wht. 542.50
Dec. Corn 2020 / 411 Nov. Beans 2020 / 964.75
Start of the month (Oct.)
Dec. Corn 388
Dec. Wht. 495.75
Nov. Beans 906
Dec. Corn 2020 408.25
Nov. Beans 2020 954.25
Harvest is slow with the weather and crop maturity behind the pace.
Basis holding well
383.50 & 381-379 &377.50-372.50
Support SX. 920.25 & 911.50 & 903
USDA Report Nov. 8th
Read today were China talked about buying $20 bil. in Ag. products. That news was known yesterday. That didn’t break beans 5 cents the last 5 min. of trade. Option expiration and money flow played the game at the 920 level on the close. China in the part 1 deal was said to buy $40-50 bil. worth of Ag. products in a 2 yr period. NOT in 1 YR.
We still have 4 more trading days for the avg. insurance number for this month.
Weather/ stay warm its going to be cold mid week and on.