Malcom Ag Group, Inc.
Malcom Ag Group, Inc.
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    • CASE 1845 C
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today's thoughts

Friday rally

3/13/2020

 
Fire lit in the Dow with government money to the rescue, 22,988, plus 1903 points.  Dow had a 2600 point rally from the lows, or basically a good year in a single day.  Bonds in an 8 point range with a 176.21 settle, off 2 points and 11 tics.  Bonds don't see all the easy money the Dow did I guess.  Corn unchanged as it couldn't hold early gains, 365 3/4.  Beans fell 10 3/4 to 848 3/4.  Wheat stalled at 506, up 1/2 cent.  I just cant see the long term bearishness of the grains in one breath and empty shelves in the next.  Rice up 16 1/2 more, 1332, as nervous shorts continue to cover.   The next government report will be planting intention at the end of the month, and either this corona virus from Wuhan, China(there, I said it out loud) is a dud, or people start to grasp that the illness's primary target, old people, is what most of the agriculture sector is made of.  Kind of hard to make record yields with dead people.  For what its worth, I don't think you are at much risk.  There is a new joke about the virus I would tell you, but you probably wont get it. 

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