As for today...
Sep 20, 2013
China remains on holiday so there is very little news on that front. Traders here at home will be waiting to see the latest Informa numbers, expected to be released this morning at around 10:30am CST. I am hearing we will see their final wheat production numbers for 2013, and may also see their updated corn and soy acreage estimates. Keep in mind "acreage" has been very heavily debated as of late so this could be very influential data. My gut says as long we keep trading US "production," and some of the yield reports continue to show surprises to the upside, we need to keep our hedges in place in expectation of additional downhill pressure. Lets also not forget, after the close, the USDA will release its Sept "Cattle-on-Feed" report. Most seem to be expecting an "On Feed" number between 93-96% of a year earlier. Aug "placements" and "marketings" could be a real wild-card.
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