Global markets are trading steady overnight, despite the release of March Australian unemployment data – which the Bank of Montreal is labelling “ugly” – which shows the greatest monthly level in decline in employment since 2003……could be a signal of
Crops:
US weather remains a concern for wheat, as that sector is trading higher this morning. Corn is staging a bit of a rally in the early session after dropping following the release of yesterday’s USDA report. Twitter talk after the release focused on the surprise in higher than expected world ending stocks, rather than lower than expected US ending stocks.
Livestock:
Despite corn being rangebound at a lower level, livestock has been on a steady decline since the beginning of the year. Slower feedlot sales and decreased demand –possibly because of a deferral of the traditional opening of grilling season – has both price levels and trading volume down
Corn Futures
Live Cattle Futures
Disclaimer: This commentary is provided for information only and is not intended as advice