Malcom Ag Group, Inc.
Malcom Ag Group, Inc.
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  • Home
  • Commentary
  • About
    • Bio
  • Contact
  • Links
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  • Individual advisory service
  • Archives
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    • CASE 1845 C
    • Cost Of Carry
    • Options
    • A possible momentum trading program
    • data

today's thoughts

Tuesday

12/29/2020

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Tuesday brought big buying and short covering, along with aggressive options activity to the beans, with a 40 1/4 cent rally to 1295 1/2.   Lots of reasons to look up 1290, and we did, but seems overdone for now.  Meal did rally over $11 as well so there is a base to the trade.   Corn cut thru 460 like a hot knife thru butter and closed 466, up 9 1/2.  Big picture is a softer dollar and tight global food supply makes for high grain prices.  Keep in mind, we are shipping, while other countries are paying demurrage.   Rice popped 21 to 1220 1/2 as the spread caught a bid and the seller ran out of bullets.  Wheat even found a floor and gained 4 1/4 to 618 1/2.  Dow just a simple churn trade, 30,238, off 67, and bonds slip 3 tics, 172.21.  Wednesday is first intentions for Jan, so make sure all Jan positions are cleaned up. 
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