Friday 9th USDA Supply & Demand Report
EPA blend mandates really moved markets (less than expected)
Remember these are just projections
India / export ban for wheat / will they be back exporting?
China/ Covid/ protest
Arg. getting hotter and dry this week.
Brazil in good shape (may have 800-950 mil more beans than last yr.)
Seasonal Feb Cattle has a Dec. rally
Weekly Range / 50% retrace
4 Week Avg’s
Last time the US $ was here
CH has a small gap at 638
WH on 8-11-22 price 841.25 on 8-18-22 the price was 766
(RSI was 26.82 at 766. Now its 24.29 at 761)
Wheat oversold /Also getting in better alignment with World prices
This week another reason that producers can be bullish but use the Futures and
Option tools that are available for use.
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Scott Capinegro (email@example.com)
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