Early Market Talk March 20, 2020

Emtheader

Politicians always talk about issues as a CRISIS, and always in APOCOLYPTIC terms. Is it any wonder some question the current situation? Aesop wrote a Fable addressing something like this if I recall.

California jumps to the #2 spot on the “We care more” chart overtaking Kansas. California ordering 40 million residents to stay home.

Markets; Higher across the board with the US $ an exception. US $ is getting slammed this morning. Dow futures up 612 points at 20,615. Crude nearly $2.00 higher at $27.27.

At 0600 CK20 up 5 ½¢ at $3.51 with SK20 8 ¾¢ higher at $8.52 ¼. Both showing decent volume. KC and Chi wheat higher.

Chinese soybean business talk, meal strength and oversold markets all coming together. Maybe most important, bearishness was palpable Wednesday. Darkest before dawn kinda stuff?

Drier weather returns to southern Brazil next week maintaining stress on Safrina corn across southern portions of the belt. Enough so to matter yet in question but warrants keeping an eye on.

Ethanol production shutting down all over the place. Some wanting to suggest we could lose upwards of 500 mln bu of corn demand! Do that and get 96 mln corn acres March 31st and, well, you get the picture.

Early spring fieldwork looking doubtful with a couple inches of rain this week in central Iowa and a wet April suggested.

Wild markets continue to yield some interesting spread opportunities.

“A” team works form home next week.

Market Talk Footer

INTL FCStone, Inc. and its affiliates assume no liability for the use of this information contained and expresses no solicitation to buy or sell futures, options on futures contracts, or OTC products. Commodity trading involves risks and past financial results are not necessarily indicative of future performance. Any hypothetical examples given are exactly that and no representation is being made that any person will or is likely to achieve profits or losses based on those examples. Reference to and discussion of OTC products are made solely on behalf of INTL Hanley, LLC. Reproduction without authorization is forbidden. All rights reserved.


E- mail: Bruce.Nelson@IFCS.com

1075 Jordan Creek Parkway Suite 300
West Des Moines, IA 50266

www.intlfcstone.com
800-422-3087 Ext 3791
515-223-3791