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“Shootin’ The Bull”
Commodity Market Comments
by Christopher B. Swift
July 21, 2017
On Feed: 105%, Placement’s 116%, Marketed 104%
I can’t recall a more skewed number from guess to actual. I’m not real sure I’ve seen a placement number this high. I’m sure there has been. So, I’ll anticipate the worst and hope for the best. I’ll be working this weekend on how to best engage this news and the markets. The positive aspect of this will be that none of this changes the demand spectrum. In previous reports, all having been higher as well, traders took prices lower initially, but were unable to keep them there. It may take a little longer for this large of a number to be digested, but I anticipate it to be.
There is nothing to discuss until the impact is seen on Monday. I anticipate a limit down open and we’ll begin working from there.
Corn was lower today. I anticipate corn to continue higher.
Crude sold off sharply today. This puts most contract months to the middle of the range made the past 4 weeks.
S & P 500 Stock Index:
The S&P was lower, but not by much. Still watching and waiting.
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