USDA has spoken. Bottom line, big crops with big demand. Best of Both worlds for our farmers.
Bearish yields w/ corn at 165 and beans at 44 bpa, respectively. Large carryouts in the wheat will be swallowed up by world wide, demand if this early trade is indicitive.
We continue to see excellent demand from China for our beans, as well as somewhat astounding movement yesterday in the corn.
Today is the first flush from this trade. Currently its 10:09 AM and we’ve been open for 40 minutes.
Settlement today is key, if we get CZ to settle above 425, that opens the door back up to 460.
That being said, this is a critical area. There is nothing to say that we could not spike higher, and then move sharply lower.
Volatility begets opportunity, but Volatity requires disciplined money management.
Good Trading
