Introduces Oliver Sloup from Blue Line Futures, notes anticipation for USDA report.
Host
Oliver Sloup
Previewing USDA report with potential yield adjustments for corn and soybeans. Corn market has been trading sideways for weeks, needs bullish catalyst from USDA to move higher.
Asks if historical pattern of USDA lowering yields could continue.
Host
Oliver Sloup
Confirms that's the expectation. For bullish reaction, corn yield needs to come below 182 bu/acre, soybeans below 52.7 bu/acre.
Asks if China soybean purchases over 12 million metric tons could be positive regardless of report.
Host
Oliver Sloup
China being back in market is positive and supportive. After report, focus shifts to South American weather and US planting.
Asks about cash market expectations for packers spending.
Host
Oliver Sloup
Market appears fairly valued. Recent trade retraced to January 2nd breakout point, which held. Current environment offers shorter-term trading opportunities due to reduced volatility.