usda report for friday, june 30
The big USDA report comes out Friday morning. This is the one the market has been waiting for. Everyone has an opinion, but no one knows for sure. It could be a shocker if the quartly stocks for corn are different than expected. All you can do is position yourself ahead of a report like this and have a contingency plan.Sugar is looking like it may be finding some good support.
Beans may have some life in them for the upcoming growing season. At least some people are predicting some midwest dryness coming during the key time windows for soybean yield determination. I can tell you that in my neck of the woods, previously forecasted rain has been removed from the forecast for now and it feels hot, hot, hot... but that's not to say we couldn't be drenched by the end of the weekend.
We'll have a better idea of wheat yields after tomorrow, too. Look for some fireworks here.
The decline in cattle (both live and feeder) that you could just feel was near happened today. My approach is to look for strength in these markets and pursue an options strategy based on their movements in the coming days.
It should be interesting tomorrow... the March 31 report was the last market-shocking report (May 12 being a relative non-event).
posted by jared @ 5:52 PM
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