Weekend Grain comment Started by bcb
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Started by metmike - Feb. 21, 2021, 11:06 p.m.

                            Thanks for your great comments bcb!


For some reason, the forum will not allow comments below yours, so I'm copying it again here:

                Started by bcb - Feb. 20, 2021, 12:55 p.m.            

                                        

2-20-21


There Back

China/Asia done with Holiday

Will we see bookings or cancellations this coming week??


Jan. Soybean Crush

184.6 mil bu. 2nd largest on record for the month of Jan.


USDA Forum #'s

Acres                            Yield                        Ending Stocks

Corn 92 mil. vs. 90.8     179.5                        1,552

Beans 90 mil vs. 83.1    50.8                            145

These are just what they are est. BUT come March planting intentions

the trade will compare and be a market mover. Seems BULL bias won't

be going away for 2021. Can't have a weather hiccup.

Will we see "Death" breaks or shakeups of course.


CZ / SX ratio is 2.600


Feb. Insurance avg. (5 trading days to establish)

Corn 453.50 and Soybeans 1172.75


We still have next week if we are still in search of Feb. lows

We also could have seen them too.


Feb. Lows (so far)

CH  524.75     WH 625.75     SH 1337.25

CN  511.75     WN 616           SN 1319.75

CZ 441                                   SX 1135.75


Friday's trade imho was effected by option expiration and liquidation

cuz of first notice day next week . More spread movements  


Wheat market would seem to have under lying support do to the Plains and 

Texas weather. Winter freeze/damage time will tell.


Cattle on Feed Report

USDA                                        Est

Feed 101%                                101%

Placements 103%                      100%

Marketing 94%                          95%


My market lean is buy breaks and please look especially new crop corn

price some 20%-30% . 

Need help or ideas please continue to call me.


Be Safe

Scott Capinegro

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