AUDIO COMMENTARY

Cattle at crucial level to hold
Very solid price action today in grains
Corn breaks the July highs
Only handful of days higher than today
Details on today’s corn sell alert
At an area to consider taking risk off the table if you are forced to move something
Who should take risk off the table?
We see upside but define your risk
Crop tours say crop is smaller than USDA
Tours supporting the market
Final tour results after close Friday
What if we don’t slow down demand and supply isn’t as large as advertised?
Options starting to price higher prices
Still pathways for even tighter situations
The market believes there is a chance for a lot higher prices just by looking at options
Consider selling the high option premium
Be proactive but do not get yourself oversold in a market that has high potential
Who should remain patient in sales?
Don’t put all your eggs in one basket
Carry structure says we aren’t friendly today but could get really friendly later
MPLS wheat looks too cheap vs others
All time high in KC vs MPLS