Monday 16th Soybean Crush 11 am CDT
Friday 20th Cattle on Feed Report
Possible start of the perfect storm:
1) US / China going the right direction (for now anyway)
2) S.A. weather (Brazil Hot and Dry)
3) Funds short
4) First good week of positive technical trade
5) Saudi Oil attack (Oil should be higher will other commodities follow)
China and tariffs help the rally in Hogs and Soybeans this week.
Look closely at the Corn numbers: Dec. Corn is now front month
Dec. corn gap 388-392.75
Front month Corn the half of the yr. 396
Front month Corn (DTN charts) the half for the yr. 403.50
Dec. Corn 200 day ma. 403.50
Monthly retracement 50% = 388.25
Dec. Corn start of the yr. 395.25
IMHO Target 388-396
Support 361-359
Now if Frost hits end of Sept into early OCT…….
IMHO yields will work lower for both corn and beans and the question still is total harvested acres.
Here are the 4 week avgs:
CZ = 366
CH = 377.75
WZ = 470.75
WH = 477.25
SX = 877.25
SF = 891
We closed above ALL 4 week avgs.
LCV = 97.53
LCZ = 102.37
LHV = 63.65
LHZ = 63.66
Be Safe
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