Good morning.
End of month. Sometimes this day gets a little hairy.
Still a lot of chatter about the Smithfield purchase. I am not sure how it plays out but my instincts are that it is good for the pork industry. I am not a paranoid as the rest of the market.
Economic numbers out today suggest a sluggish economy. No real shockers. Spending and income are both down.
Corn up 1 in front to down 1 in back. Beans up 8 to 11 and wheat down 4.
Tapering and inflation still the main headlines.
I see no inflation. I see no new job growth. I see no break in the record number on foodstamps. I see no real surge in housing. Therefore I see no real significant taper any time soon.
This Monday's planting and emergence numbers are going to be interesting as this spring weather is still having an impact. How many corn acres may be lost? What is the damage to the BPA on the later corn? This will keep the summer interesting....I hope.
