Midday Mayhem

With the big WASDE report on the horizon and additional reports due by month's end, we emphasized the importance of staying alert. We also teased our upcoming snapshot release, set to provide valuable insights this Thursday.

Greg and I then explored the significant short positions in the bean market, noting that while there's been some lightening up, the sellers still hold the reins. We pondered whether the upcoming report might reveal lower numbers from South America, potentially shaking up the market's current stance.

We also touched on the livestock sector, expressing concerns about the cattle market's apparent strength and the hog market's unpredictable nature. With an eye on the recent sideways movement in cattle and the volatile trends in hogs, we advised caution and the use of protective stops for those invested.

‍