The calendar flip to April led to some fund short-covering, but they are likely to remain comfortable with their aggressive short stance until a trade deal with China is announced. We also spend some time on USDA’s quarterly stocks estimate for corn… it was a game changer. Buyers were aggressive in the cattle and especially the lean hog markets last week, with hopes of Chinese U.S. pork buys and the threat of a winter storm pushing up prices.
Don’t wait for the mail. Find more on these topics and much more in this week’s issue, which you can download here.
We hope you enjoy it!