Estimates for tomorrow’s reports can be found at the bottom of this email.
US Dollar strength relative to South American currencies is likely hampering old crop exports in the near term, but managed money funds remain at record short positions combined in corn, soybeans, wheat.
- Will tomorrow’s Planting Intentions and Quarterly Stocks Report provide a spark for shorts to cover?
- Will wet weather persist in delaying planting in April?
- Will the rumors of large China soybean purchases or major progress on a trade deal spark some interest overnight?
- I do not know the answers to these questions but they are all possible drivers of a short covering rally.
Contact your broker to discuss your trading or hedging plan!
This article originally appeared in the Technical Ag Knowledge Newsletter “Currency Competition Hampers Exports **VIDEO Chart Analysis**” at 03/28/19 03:10:20 PM Central Daylight Time.
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