US-China rhetoric turned bullish this morning as President Trump tweets a deal is “close”
China looks to lower tariffs on imports as the critical date approaches. A 2.8 million head slaughter this week will likely limit upside
G-J struggles again above 6 cents. Lets take profit and buy a break
We expect the Dec contract to continue to chop this week. We will be looking for evidence of topping slaughter numbers to jump long Feb.
KC wheat looks toppy here, down 5 from the close yesterday. Oilseeds remain quiet while corn spreads back off.
Corn falls further behind, beans are only slightly off pace. Cotton is ahead of last years harvest pace. Wheat conditions are downgraded.
Dec contract fights with high pork production, limiting cash price advances. Feb and beyond remain strong as potential Asian demand supports
USDA November WASDE Recap 11/8
Progress reports saw corn miss,beans were on expectations and cotton was ahead. Are harvest worries for corn enough to cause a turn around?
We like buying Feb selling April on this morning’s break