RFD PROFIT-WATCH AUDIO COMMENTARY:
Remember: With The Winter Storm Coming, The EFG Toll-Free Line For Brokerage Clients Is 877 304-1369. Use This In Case You Can’t Reach Me Here At The Office–We’re Showing 10-15″ Forecast For Snowfall Here At HQ in Atchison Kansas
In today’s audio update, the comments I give really underscore analysis you’ve been hearing for several months. What we didn’t get to today was the fact that the whole agriculture sector saw a wave of heavy selling–including Feeder & Fat Cattle…after Fats made yet fresh record highs this week. While SA and Black Sea weather fundamentals suggest price support, we leave this week with a very weak-looking chart picture and erosion of a lot of hard-fought gains in key commodities like wheat and soymeal. As a result of this technical picture looking more dim after Friday’s close, additional hedge recommendations are more likely as we start next week. We’ll see how (a) the US Dollar acts this weekend and (b) whether the Argentina weather turns the market back toward buying dips led by corn and meal. I am starting to hear more about the idea that farmer-related selling may be tapering with today’s pull-back. As a result, a third key to hedge triggers is where we see the cash-basis go at the start of the week.
INVESTOR COMMODITY CORNER: To Be Updated This Weekend, Weather-Power Permitting
— POSSIBLE “SELL SIGNAL” IN-PLAY FOR THE S&P 500 —
— POSSIBLE “BUY SIGNAL” IN-PLAY FOR THE WTI CRUDE —
All Charts Source: LSEG/Global Commodity Analytics Unless Otherwise Noted. Please Keep In Mind, The Charts Shown Could Be From Mid-Session & Not Reflect Closes/Settlements.
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