Monday 20th MLK Day grains closed
22nd Cold Storage Report
24th Cattle on Feed Report
China Ag. minister suggest 202 Bean imports could improve from 2019 levels LY imported 88 mmt.
Trade agreements and Pres. Trump is 3 for 3
They will give underling support to grains. Now when you hear about a rumor (Friday China buying 2-4 cargoes of corn), rumors can now turn into reality.
We had the China/US signing on Weds. and then Thursday trade decided it wasn’t enough. What did everyone think. Sign the trade agreement and start buying the same day. Everything that we heard by the Pres. and his adm. was in that agreement.
Then came Friday’s trade.
Please refer back to my comments about Corn and the Presidential election yrs. trend. Also Dec. Corn has closed under $4 in the yrs.2014,15,16,17,18,19. Have a start to a marketing plan. If need help or ideas I have some for ya. Just call 800-942-1513
March corn are there stops above 392? Could we move to 397-402??
Then establish the trading range which we are in.
MHO would like to see 397-402 resistance and support 375,50-373
Dec. Corn 407-411?? Place to start a hedge
Cattle market is being supported by higher cash for cutouts.
BUT packers like this trade at $124 which right now is holding Feb cattle from rallying to 128.40 and maybe 130.
Stay warm next few days buuuuuurrrrrr