Dow collapse of 2490 points Thursday is the feature, 21,085. Surprisingly, bonds off a point and 17 tics to 179 even. That is a liquidity crisis. Treasury will be the next to step to the plate to cure that. Beans off 13 3/4 to 859 1/2. Wheat down 7 1/4 to 505 1/2. Corn hit for 8 3/4 to 365 3/4. Rice short cover continues, 1315 1/2, plus 17 1/2. As expected, we are seeing runs on the stores, and I am simply shocked that anyone would be willing to be short corn or beans as shelves are stripped bare. Time will tell. If this thing is a real crisis, exactly how is the farmer, the target demographic of the corona virus, going to get planted the record crops we are forecasting?
Comments are closed.
|
Archives
September 2023
|
Services |
Company |
|