Malcom Ag Group, Inc.
Malcom Ag Group, Inc.
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  • Commentary
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    • Cost Of Carry
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today's thoughts
General notes to start daily individual updates

Tuesday

9/19/2023

 
Pretty quiet day of trade Tuesday with the Dow leaking 118 points, 34,817 and bonds off 18 tics to 118.07.  This is in front of the FED,  expected to do nothing Wednesday.  Wheat lost 7 1/4 cents, 584 and really making people want to pick the seasonal bottom.  A small vessel is cruising out of Ukraine in defiance of the Russia embargo with 3,000 tons of wheat bound for Israel.  Lots of symbolism there as well as a huge military risk for escalation.  Beans off 1 1/4 to 1315 1/2 and acting like it wants to hold here while corn gains 4 3/4 to 476 1/4.  Rice up 1 1/2 to 1603.  I have no basis in this, but I'm on the lookout for a black swan.  Kind of feel something different in the air.  Hope its just fall, but still?

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