Written Commentary
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May Crude Oil hit resistance at the 100-day moving average today. The 100-day MA is sitting at $69.66/barrel this afternoon.
Consumer Confidence down for the 4th straight month to 92.9 (-7.2 lower than February report).
The Conference Board’s Short-Term Expectations for income, business and jb markets fell 9.6 points to 65.2. This is the lowest reading in 12 years.
CALENDAR SPREADS
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COST OF CARRY
Daily Trading Limits: Corn $0.30 (expanded $0.45); Soybeans $0.85 (expanded $1.30); Minneapolis Wheat $0.60 (expanded $0.90); KC Wheat $0.40 (expanded $0.60); Chicago Wheat $0.40 (expanded $0.60)
Futures Settlements & Technicals
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>>Interested in more commentary by Joe Mauck? Go HERE
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