In February and early-March Allendale discussed the differentiation in basis between heavy supply years and tight supply years. In heavy supply years basis typically does not continue gains into summer that were noted in the spring. Given a potential sideways basis, and high interest rates this would suggest a potential need to move old crop cash corn and soybeans and conduct paper re-ownership if supportive price views are still held.
Continue reading →The Department of Labor's monthly employment report showed only 175,000 jobs added to non-farm payrolls in April. That was under the 243,000 trade expectation. It is also the lowest job gain in six months.
Continue reading →Yesterday did show signs of fund short covering although this time the open interest report doesn’t support that, it is possible for funds to cover shorts on higher OI, just much less likely
Continue reading →Weekly Actual Slaughter this morning detailed meat production statistics for the third week of April.
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