Monday the 15th Expanded position limits NOT daily limits
Monday the 15th Crush
Friday the 19th Cattle On Feed
Still important lows in Feb. would need to hold support.
Watch the March contracts numbers for support and resistance for May contacts.
571.25 High 542
Last trading day
551.50 544.50 Off at 549.25
1453.50 High 1383.50
Lasting trading day
1425.00 1395.75 Off 1415.75
CZ / SX ratio 2.597
4 week avg's
CK 544.25 CN 533.75
WK 663 WN 652
SK 1414 SN 1400.50
CZ 466.50 Sx 1221
BIG Report end of March
The market has priced the Bull news into price. So we wait for some new inputs for the
possible surge to new Highs. Do I think the year High's are in NO.
Still like doing some hedging in new crop corn with selling calls $5.20.
We will be taking profits late spring if we are getting planted and things look good.
My possible CZ range could be 485.25-491.25 with breaks down to 463-457 and maybe 451-449
that is the NOW range.
Cattle needs the packer to pay up and get off the $114 they been paying for weeks.
We might see a nice $5 move up then.
Hogs are just off to the races and do look Higher.
Will this rain event take any drought talk out of the market
Down [red] for grain
I think some dry places good good rain events
No rain on our farm of the Great Lakes
Was predicted rain but nothing
we usually have good sub soil every spring
Top soil is very dry
Roads are dry, which is unusual this early
But that is one small place
This 1 event will not come close to alleviating the drought/dryness but it was wonderful in many places.....still some precip to go below.
The week 2 pattern after this turns dry???
Precio the next week below.........mostly from this system right now.
Precip the last week below, not including today: