Its a big option expiration day in the markets, today will likely see record volume across everything. Grains and beans are on the move
Its been a good day so far for bull spreads. We are going to venture into cattle
Potential closing of the Mexican border gives cattle a boost. Corn gets hit by falling ethanol basis and the loss of exports to Mexico
Fed injects more liquidity in treasury market today than in all of Q1 2009. Grains hang in, equities do not
This virus situation is such a weird dynamic, we don’t really know how to gauge how it will affect price.
Hog markets should be steady to start the week from a cash perspective. A bloodbath in the Sunday equity and energy trade could complicate
Chinese PMI contraction weighs on macro market traders while hog prices firm globally due to supply shortages
We are seeing a bounce in crude this morning, we think this is a good spot to cover and buy June. At some point we will get net long but for today we will just cover our net short.
Sell 2 April buy 1 August. Markets are up this morning in April. We think this is just a dead cat bounce and we probably need to take some risk off the front of the curve.
China buys…kind of.. Meanwhile yje market will shift toward harvest of ’20 as USDA Ag forum on Thurs moves focus to new crop