The Feb Aug spread is getting licked today as money runs out of the front of the curve. We think this is a bit over done up front and want to buy the April and Sell an Aug.
Deferred hog contracts are getting beat up because of the Coronavirus/travel bans in and out of China. Cover the Feb-April spread
Overnight markets chop as a corrective trade sets in. Its only a calm before the storm though, Shanghai markets wont reopen until Sunday
Demand grows as export sales hit record highs. Were not sure that will matter this morning as the China virus story brings out the sellers.
Last week’s export demand was huge, breaks in supply driven selloffs in G should support futures and converge cash from the bottom
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Hog futures were lower last week across the board, held under pressure by dwarfing supply numbers.Hogs are now the whipping post at the CME
Bearish pre-report action was bought as corn sits 10 , wheat 8, beans 8 and cotton 20 ticks off lows. Bullish action on neutral data…
Buy Feb- Sell April. Feb-April spreads have pulled back below 7.00. We think this is a great spot to jump in and own the front of the curve.
Supply numbers should be tightening soon and the US-China signing taking place in two weeks. There is value at the front of the curve