11-23-19
Happy Thanksgiving
Enjoy the day with family and friends
Travel SAFE
Wednesday full day of trading. NO trading on Thanksgiving night.
Grain trade and livestock on Friday 8:30 am cdt.
Here is the Cattle on Feed numbers:
On feed avg. est. 101.4 USDA 101
Placed avg. est. 112.2 USDA 110
Marketing avg. est. 99.6 USDA 99
Aug. fire at the Tyson Beef plant in KS. will resume operations sometime in Dec.
Last week we still had about 20 million acres of corn and 3-3.5 million acres of soybeans to harvest. We will see how the progress went for the week Monday afternoon.
S.A. weather the next 10 days look like they will receive rains.
I read were a farmer was called by his LP supplier and asked him how much corn he had to dry in the bin. They would give him enough gas for the drier but not for harvesting.
The drop in corn prices has attracted some corn exports.
We are very close to the end of the seasonal break.
Supply/Demand = Price
BUT
Political rhetoric seems to have more influence on trade than anything else ( impeachment, trade talks, Hong Kong support, Congress holding up the trade agreement between US. MX. Canada)
Let’s enjoy Thanksgiving
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