Malcom Ag Group, Inc.
Malcom Ag Group, Inc.
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today's thoughts
General notes to start daily individual updates

Thursday

5/4/2023

 
Export sales Thursday morning negative corn but shipments record large.  Nice to see Mexico back for 30K of rough rice.  That has to be where part of the barges were headed, but Id say more is in the pipeline.  River freight is stupid cheap right now.  OK soy and wheat numbers.  EU raised rates 1/4 as expected.   They are crowing about their banking system being more stable but neglecting the details of why.  I'll take Jamie Dimon over the entire EU financial system.  I think they would too.  Soft open for Ag but solid bounce thru the day.  Corn and wheat each off a dime but corn closes 1/2 higher, 589 and wheat picks up 5 1/4 to 645.  Russia corridor still in the air but I suspect there will be a deal cut.  Beans 12 lower and a nickel higher, 1417 3/4 close is up 1/4.  Rice up a nickel, 1797 1/2 as we chew thru $8 pricing from the farm and futures longs ringing the register.  More receipts cancelled.  I'd be mighty cautious being short any measurable amount of July right now.  Dow looked at 33K and closed 33,196, off 296 points.  Bonds sniffed 133 but settled only 8 better, 132.04. 

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