A Quiet Grain Trade Ahead of a Long Weekend.

Grains were mixed in today’s trade with corn and wheat higher while soybeans were lower. Where does that put us ahead of the long weekend.

Took a lot of time off, you’ve got about 4550 seconds, which is probably a good thing, but tell what’s going on in your mind.
Yeah, no, I actually appreciate that you and I were joking before we came on the air, the last couple hours in this market is kind of look like watching paint dry. And we do have a long weekend ahead of us. So maybe that’s potentially playing a little bit of a catalyst in the afternoon, boring trade, so to speak. But I think really, when we come back the next week is really what I’m looking forward to this is, you know, the time of year where you start to see that volatility increase. And I think we can squeeze a little bit more out in these grain markets. But I’ve been telling producers, you know, if we get another, another couple of weeks of good prices, I think you’re gonna want to be pretty proactive and playing defense, just looking at the seasonality of things. For that new crop December corn, we start to kind of run out of steam in the first couple of weeks of June. So that’s certainly going to be something you’re going to want to circle on your calendar to have some decisions kind of in place on what you want to do and get done by then. Yeah,
I mean, it’s going to be that way. I think. I mean, are you real quick in 10 seconds, are you massively bullish, massively bearish? Are you kind of in Purgatory? I mean, what are your long term views here?
I’m in Purgatory. I think we’ve squeezed out a little bit more to the upside, but I think by the time we get towards fall, I wouldn’t be surprised to see new lows in order unfortunately, barring any major weather concerns or outside market impact.
All right, Hadramawt. Now is what he’s trying to tell us right? Say right there, we’re gonna go away. We’re gonna pay some bills to the set some 37 cents to 7642. And that gives me the chance to get back to our guest analyst Oliver slope is with blue line futures in Chicago, Oliver, anything jump out at you. And we’ve talked about some of these livestock prices.
Well, we’re seeing a little bit of weakness creeping into the cattle complex here over the last 2030 minutes or so. And I think some of that could just be some profit taking after a nice run higher. For the last several sessions back seven sessions upside for the June live cattle contract today was going to be the eighth but it looks like we’re reversing we do have a cattle on feed report tomorrow afternoon. So potentially, you’re seeing a little bit of profit taking ahead of that and the long weekend. I think the important thing to know what that is, we got a big report out tomorrow and you won’t be able to trade or act on it until we come back on Tuesdays so people probably squaring up some stuff and tying up loose ends on that front. Ultimately, though, this market I think looks really healthy. The fun participation has been lackluster, but we’re entering a time a year where we start to see some really good seasonal strength with grilling season, and that the outside markets can kind of hold their footing as well potentially that adds a nice tailwind going into the summer months for the cattle complex.
I’m glad you brought up the outside markets I’m gonna do my best to continue to keep that beef gone but at the same time, we had gotten a lot of reports from some of these quarterly earnings reports about the consumer starting to show some signs of weakness you got about 25 seconds have you heard about those things too? And if you have does it concern you
Yeah, the consumers showing weakness I know there’s a lot of chains that are that are shutting down to or at least closing some of their their businesses, business locations. So that’s certainly something it feels like there are starting to be some cracks out there which is a little bit concerning. But as you mentioned, you’re doing your part. I’m gonna keep doing mine. And hopefully the seasonality aspect of it can keep people’s spirits high and they can go out get a steak and throw it on the grill.
Alright great stuff as usual. Thank you very much for your content love me and Oliver slope Blue Line futures in Chicago, bring it back here to the