Thursday 25th Hogs & Pig Report
Friday 26th Last Trading Days March options
CZ / SX ratio 2.587
China big buyer of Corn total 3.88 mmt which equals 152 million bu.
USDA should lower carry below 1.5
Bull spreads were the story from last weeks trade for both corn and beans.
SN / SX closed the week at 183…185.75 is unchanged for the yr.
Some weather prem. was taken from new crop corn and new crop soybeans. Some areas of the country is starting to see the start of spring rains.
Wheat crop should show improvement for the crop conditions numbers Monday afternoon. May wheat tested the March yearly contact low of 624.25. It’s a number that must hold support.
Please go back to the archives for the numbers of support and resistance. I don’t want to repeat myself here.
Trends are up. Feb lows must hold.
Cattle of Feed report ho hmmm. Last weeks trade there too spreads were the mover. April/ June traded as June $3.20 over the April. BUT April in a couple of days gained on the June.
Hogs made new contract Highs and seems still wanting Higher prices. Let’s see what the Hogs & Pig report has to say Thursday afternoon.