I couldn’t write a daily wire today due to my dealings with the dreaded brokerage error. I have been fighting the good fight all morning trying to save a buck…to no avail, ouch thats painful.
Todays market will move slightly lower with beans looking to lose the most. Exports were mildly supportive with beans over 1.0 MMT but we only shipped 83 TMT showing that China is backed up if not lessening their long term interest.
Wheat volatility surged yesterday duet o big buying in the WZ 500c with paper buying 5,000 on the day. Corn vol maintains an inflated level and its justified at least for the time being. I continue to be a corn vol bear while looking at buying bean volatility.
MPI
