China/Asia done with Holiday
Will we see bookings or cancellations this coming week??
Jan. Soybean Crush
184.6 mil bu. 2nd largest on record for the month of Jan.
USDA Forum #’s
Acres Yield Ending Stocks
Corn 92 mil. vs. 90.8 179.5 1,552
Beans 90 mil vs. 83.1 50.8 145
These are just what they are est. BUT come March planting intentions the trade will compare and be a market mover. Seems BULL bias won’t be going away for 2021. Can’t have a weather hiccup. Will we see “Death” breaks or shakeups of course.
CZ / SX ratio is 2.600
Feb. Insurance avg. (5 trading days to establish)
Corn 453.50 and Soybeans 1172.75
We still have next week if we are still in search of Feb. lows
We also could have seen them too.
Feb. Lows (so far)
CH 524.75 WH 625.75 SH 1337.25
CN 511.75 WN 616 SN 1319.75
CZ 441 SX 1135.75
Friday’s trade imho was effected by option expiration and liquidation cuz of first notice day next week . More spread movements
Wheat market would seem to have under lying support do to the Plains and Texas weather. Winter freeze/damage time will tell.
Cattle on Feed Report
Feed 101% 101%
Placements 103% 100%
Marketing 94% 95%
My market lean is buy breaks and please look especially new crop corn price some 20%-30% .
Need help or ideas please continue to call me.