Breaking out of the trend change box
Nice chart Mike!
First USDA crop condition/planting report of the season:
Winter wheat rated 56% Good/Excellent vs 32% last year. The 2018 rating was one of the worst ever because of the S.Plains drought.
This years ratings were about what was expected.
The SRW crop is not doing so well in some places. Ohio ratings were 26% p/vp for instance.
In contrast to last year, the HRW is doing much better. NE for instance, where we've been hearing about all the record flooding..........is doing pretty good. Only 5% p/vp and 69% gd/ex in Nebraska.
By the numbers (complements of Reuters)
Monday April 1st seems to be a bounce in bear market?