Chinese New Year Holiday Feb 1st
Lunar New Year Feb. 1st
China host Olympics Feb 3rd
Indonesia top palm oil producer / export restriction hold back 20% of exports for domestic markets.
Brazil crushing margins strong. Plus not enough beans going to ports.
Could we see some US demand??
Canadian truckers to protest in Ottawa (Sat. 29th) cuz of vaccine requirements for cross the border drivers. Some 90% of truckers are vaccinated.
CZ/SX ratio started the year at 2.141. Started the week at 2.328 and finished the week at 2.373. This is the monthly / yearly High.
Please refer to last weeks comments in the achieves list. Could we be close to Highs for Corn and Beans? We have a strong seasonal ( Feb. break) around the corner.
Repeat buy puts to take some risk off.
US Dollar at 7 month Highs
Here is a try of ranges imho
res: 14650-147.25 then 151.60
There is a gap down at 102.07-101.95 then support 101
Grains trend is up techs/ charts/funds are beating the bears.
Let the market try to show us. We are due for a break but it may not change the trend.. Just the Feb break. Time will tell.
Call with questions