Turn those machines back on!

» Posted by on Oct 30, 2018 in Announcements, Shop Talk, Uncategorized | 0 comments

When I spoke this morning of the roller coaster ride I was not anticipating it to continue on ALL IN ONE DAY! But as I have said many times … “The market is smarter than all of us.” Most have probably already heard many of the reasons for a 900 point swing and it seems the analysts touched on nearly all I referenced earlier. Dow futures at 8:30 PM Eastern have a 73 point range and are roughly 40 lower with light volume of 5800. We’ll see what comes.

Dec Cattle came off $1.15 with a healthy range of $1.725. Boxed beef lost 47 to 48 cents while cash showed $114 to $115 up $3-$4 over last week. The October cattle is trading right in line with cash at $114.30 as it should be this close to expiration.

Chicago Dec Wheat closed up 2 cents. Funds added more than 9300 contracts to their overall short position.

December Corn closed down a penny with a 6 cent range on the day and CFTC data showed funds added more than 5200 contracts to their long position.

Beans had the largest range of 15 cents. Funds showed adding roughly 8,000 contracts to their short positions.


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