Kleist Comments

MORNING GRAINS 3/10/14
MORNING GRAINS 3/10/14

Corn:

Exports: None Visible.

Comments: Ukraine/Russian situation still a coin toss but I lean to Russia getting the Crimea back and will be said by ‘popular demand’. USDA at 11:00a.m. and news is sparse; open interest little changed in total, some rolling noted even to the March 2015 contract!, volume good; C-O-T report: I’ll say it this way to not be redundant—commercials again rolled out of longs and added shorts to the tune of about 70,000 contracts, funds rolled out of shorts and into longs to the tune of about 55,000 contracts and index funds added over 11,000 longs.

SOYBEANS:

Exports: None Visible.

Comments: China weak trade data hurts Asian stock markets; no China cancellations, play us like a fiddle; open interest fell 4,600 led by May off 5,2100 amid moderate volume Friday; C-O-T report: leaned moderately bearish.

Wheat:

Exports: None Visible.

Comments: Like the other pits, wheat chopping around; Ukraine/Russian deal might be felt here most but also likely temporary; open interest fell 3,100 led by May off 6,100 amid strong volume; C-O-T report: leaned bearish……………….more on grains after report.

Cattle C-O-T report: mixed to tilting negative;

Hogs C-O-T report: leaned bearish.

Kleist Comments

This is John Kleist, of Kleist Ag Consulting.
Questions? Email me: johnwkleist@sbcglobal.net

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