Corn received the short end of the spreads. Wheat has had some dry weather issues. The virtual wheat tour is under way in Kansas. How will that effect the way the market trades? Brazil has had some weather, is there a break headed their way in the drought. EU & Black Sea weather…what is the damage? Impact of the CARES act what will that mean for the markets. Update on African Swine Fever.
Risk off across the board. Equities under pressure. Did we forget about yesterday’s WASDE report that fast? Global economy is it falling apart? Are we opening to quick? Has a negative tone been set? How is the ethanol market faring? How dry is it in the Western U.S.? Another drop in the cattle market …same battle with what the value of the animals are at the slaughter plants.
This weekend’s freeze, what does this mean for the Midwest? Weather in the Black Sea, Brazil sees less rain opportunities. What kind of summer do we suspect? Don’t forget next Tuesday’s WASDE report looking at the 20-21 marketing year. Cash cattle trade saw some .95 & then 1.10…that helped the limit up trade.
Declaration on packing plants. Ethanol & gas reports are out, a bump in gasoline production. South America with crop production & weather in SA & the Black Sea. Global currencies.
Lower grains, how did the weekly ethanol report factor in? Port disruption talk isn’t not the loading of the ships, unloading the barges that come down the river does take time. No major effects right now. Wheat has dealt with very cold mornings, is there some damage being seen? Will Kansas be the hardest hit? How is COVID effecting the movement of pork & beef. So much talk of food shortages, but the cold storage numbers say something different. Is African Swine Fever still an issue?