Planting progress tied in with the WASDE report made for an interesting week of trading. Darin Fessler with Lakefront Futures talks about the feel and emotion that is tied into the market right now. Then add the rumors of another fight building up between the U.S. & China, and that tops off the week in this edition of Trading Bits & Bytes.
May contract goes off the board today. Some disappointment in the beans. Weather will continue to be on the back burner. Bean & China…what about the trade talk wants? Cattle had another rough day with hogs being able to hold their own. Thoughts on the movement of boxed beef.
Planting progress…a lot of talk has been corn, is a low in place or are we close? With crude oil drop continuing how is that going to effect ethanol? Could we see a time where funds will not go long? How is all the corn happenings going to effect the bean acres? What kind of pressure could wheat put on these markets (spring wheat). Pressure coming in from South America-how detrimental are these high prices in SA going to affect our grain markets? How is packing industry going to weigh in on the grains? How do we safety wise/health wise how do we make the plants more operational? It’s the people employment strategy of it all. Boxed beef is crazy high…trying to fill the cold storage as the cold storage meat moved to the meat counter.
From slowdowns in the ethanol market and its effects on corn and livestock to the struggles in the cattle trade, Darin Fessler with Lakefront Futures takes a look back on the week.
Corn has a reality of struggles, beans export sales, look at the forecast for beans & a lot of good things could happen, but outside influences will have an effect. Not everyone will have a weather-related market in 2020. Cattle has had a nice bounce off the lows. Is a June low in place? Some assistance for the cattle & hog guys is helping. Struggles within the packing market.