The USDA found 400 million bushels of corn in the bins that no one thought we had. They found an additional 60 million bushels of beans. The wheat ending stocks were at the upper end of the range.
Result? CK LIMIT DOWN and the synthetic telling us there’s another 15 cents of down side, In other words, CK is really trading at 6.80.
We are heading into long weekend. Tomorrow, Good Friday, the markets is closed. Sunday night at 5PM the screen trade comes back.
There are a tremendous number of folks out there long old crop short new crop. They are bleeding profusely from the mouth, eyes and ears. Its painful to be trapped in a terrible position.
CER