December Roll

Yesterday's USDA numbers just serve as a reminder that going into USDA reports even and open minded is a good practice!

Feels as though we're going to live with the Federal Reserve sticking with its policy of quantitative tightening and this might be a factor influencing the decay in all markets today............... Money means something again and one of the questions we have to face is whether we return to the pace of money supply growth which we saw prior to the helicopter money phase from 2008 to 2016?? Only the shadow knows.....................and he's selling volatility???

Mother Nature is bringing in more headaches and the final 20% of the corn and bean crops are having a tough time getting into a bin.............................

Our next major event is first notice day against the December contracts and the roll will be significant in the next 10 to 12 trading days...........................................Basis levels still suggest that we could expect large amounts of corn on the street while wheat.....not so much.................

The information contained on this site is the opinion of the writer and obtained from sources cited

within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in current market prices.

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Steve Bruce


Walsh Trading
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