12-03-22

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
CH 659.75
WH 777.50
SH 1457

4 Week Avg’s
CH666.25
WH 818.25
SH 1448.50

Last time the US $ was here
8-11-22 prices
CH 634.50
WH 841.25
SH 1426
LCG 155.52

Notes:
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.

Call with any questions or request for me to send account forms

Be Safe
Scott Capinegro (bcbcap@yahoo.com)
800-942-1513
Can follow me on Twitter also