USDA Report Aftermath: Not Only Did The Supply “Grain Bull” Not Get Fed–He Was Loaded-up & Sent To The Stockyards

The Question Is: Where Are The Corn & Soy Futures Trade Likely Trading Currently, After Today’s New Lows? Let’s Take A Look at The Elasticity Price Model To Get A Picture Of Where They May Be Trading. See The 1st Charts Below.

The 2nd Question I Have Is: Has The US Dollar Shifted Toward A Safe-Haven Asset Once Again? I Think The Answer To That Is “Yes”, and This Is Likely To Continue If Speculation of Worsening China-Hong Kong Relations Are Correct. The Improved Trade News Relating-to The U.S. Pull-Back On Increased Chinese Tariffs on Sep. 1 Were Overshadowed In The Agriculture Commodity Sector Today In Part Due To The New Weekly Highs In The US Dollar Index [As Stocks & Crude Oil Felt The Positive News].

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At The $3.65 Area, A 2.2 Bln. Bu. Carryover Is Likely Being Priced-In
At The $8.70 Area, An 875 Mln. Bu. Is Likely Being Priced-In
Euro Model Continues To Project Better Rainfall Totals Than GFS In Past 7 Days Of Rainfall Totals
With 100-Day Moving Avg. Holding & Hong Kong Protests Increasing/Receiving More News Coverage, the US Dollar Has Broken Higher In What I See As a Safe-Haven Asset
Feeder Cattle Have Not Benefited From The Massive Erosion In Corn Prices: The Tyson-Holcomb Beef Processing Plant Fire Last Friday Has Cost The Feeders A Key Technical Support Line–Opening up Downside To 2016-17 Lows If We Don’t See a Reversal By Week’s End In My View

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