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Everyone was expecting the ag break, everyone was disappointed again. Brazilian weather getting serious.
A needed pasting, wild volatility, we remain concerned this isn’t the long term top although there may be more short term downdraft. CK/CN exploded overnight to highs.
CK was limit up expanded 40 cents. Then it wasn’t. Plenty of “blowoff top” calls now, we shall see we remain unconvinced this is the top.
CK is limit up bid for the day session after finishing about 22 higher in the overnight. Looks like the blowoff top is still a ways away …..
Quiet softer overnight. We will see how it ends today.
All time highs in Canola, China buys 0.5-1.0 MMT of French wheat, new contract highs in Matif and US ags overnight
More new highs overnight got beat down to slightly lower beans, slightly higher corn, and 2-5 higher wheats after the European opens
Up and away some more, big call open interest in CK600 strike and SK1500 strike now at risk before Fridays expiration
Up, up and away. At least until we get a different weather forecast for Brazil
Everyone was expecting the ag break, everyone was disappointed again. Brazilian weather getting serious.
A needed pasting, wild volatility, we remain concerned this isn’t the long term top although there may be more short term downdraft. CK/CN exploded overnight to highs.
CK was limit up expanded 40 cents. Then it wasn’t. Plenty of “blowoff top” calls now, we shall see we remain unconvinced this is the top.
CK is limit up bid for the day session after finishing about 22 higher in the overnight. Looks like the blowoff top is still a ways away …..
Quiet softer overnight. We will see how it ends today.
All time highs in Canola, China buys 0.5-1.0 MMT of French wheat, new contract highs in Matif and US ags overnight
More new highs overnight got beat down to slightly lower beans, slightly higher corn, and 2-5 higher wheats after the European opens
Up and away some more, big call open interest in CK600 strike and SK1500 strike now at risk before Fridays expiration
Up, up and away. At least until we get a different weather forecast for Brazil
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