Let’s Review

» Posted by on Oct 7, 2018 in Shop Talk | 0 comments

Near by Dec Wheat in Chicago settled Friday 3 cents higher. August exports totaled 75.6 mbu up more than 18% from last month. Commitment of traders showed specs adding to their short position by nearly 11,000 contracts.

Corn shipments fell by more than 13% from July but nearly 67% greater than August 2017. Dec Corn gained 3.37% on the week. Wet conditions across the Corn Belt will likely slow harvest activity.

Soybean futures continue their gains closing 8 to 9 ¾ cents higher. Exports in August were the second largest recorded at 123.7 mbu. Nov Beans up 2.78% on the week

The 10 yr yield climbed to exceed 3.22%. This was one thing attributed to the downward move in indices. Personally I think that a good portion was simply profit taking and trimming positions for a long weekend. I do think though that the rise in the Long End of the curve sends a message that the strength in the overall U.S. economy will continue.

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