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Abstract

r was eased a bit today.US dollar index was downed by 0.2%, ending at 103.78 points. Euro was up 0.3% against US dollar but Japanese Yen was downed 0.1% Japanese Yen ended at 150.71 yen per dollar. Japanese Inflation numbers will be out tomorrow.Gold price was downed by 0.2%, ending at $2,030.57 per Oz.<figure id="2d60"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/1*HxB2BXr_p_lt_cwirIKVbQ.png"><figcaption></figcaption></figure>Crude oil price was up based on another possible turmoil in Israel. Peace talk is going on but seems not in smooth way for sure. Israel’s target is clear, full control over all Palestine which Palestine people wouldn’t accept.Based on NYMEX, Brent oil price was up 1.1%, ending at$ 82.53 per barrel. Let’s wait and see… but demand is not looking so good at all.China is holding the key.<figure id="d966"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/1*SAfdYyC2tevOaMiXu2_1jQ.png"><figcaption></figcaption></figure>In the agricultural markets, similar tunes were found with US stock markets but in opposite ways. Market was clearly oversold and need a kind of resting period. It’s end of the month and FND week…Let’s see some details.CHICAGO CORN MARKET was up 1.8% today. Quick response from funds covering their NET SHORT positions. Based on CFTC report, FUNDS have more than 340K LOTS of NET SHORTS which is the largest number in 52 weeks. Under $4 in CHICAGO MARKET means a lot and price have rebounded back above$ 4 lines in technically today.Good rains poured in Northern Argentine and Southern Brazil over the weekend but dr

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y on Central Brazil. As of the last week, Brazil’s SAFRINHA CORN has been planted 57%, well ahead of last year’s 40% progress.Corn basis is firming up everywhere as futures prices fell under $4 last week. Farmers selling also has been slowed down.CHICAGO SOYBEAN MARKET was up as well. SOYBEAN PRICE was up 0.3%, SOYBEAN MEAL price was up 0.9% and SOYBEAN OIL price was up 0.9% today.Brazil’s new crop SOYBEAN harvest has been completed about 40%. It was only 30% last year and 5-year average, 33%. 3 more Brazilian soybean vessels left and heading to Southeast ports in US. SOYBEAN OIL and MEAL will be followed soon to US from South America.CHINA’s number of hogs are keep decreasing due to extremely low margins. Chinese government is estimating that hog number as 40.7 MILLION HEADS in February, 1.8% down from a month ago and 6.9% from a year ago.This coming Thursday, it’s FND for March delivery and technically,$ 11.25 will be STRONG SUPPORT LINE for now.PARIS RAPESEED MARKET was unchanged and CANADIAN CANOLA price was up 1.3% today as drier weather for DRY PRAIRIES.CHICAGO WHEAT MARKET was up 0.7% today, supported by FUND’s short covering and technical rebound. Strong US wheat export numbers were another bullish factor of the day. 482K TONS of US wheat has been exported last week, 62K TONS increased by week. Russians have lowered their milling wheat price again by $5~$ 9 per TON.LONDON FEED WHEAT was up 0.5% but PARIS MILLING WHEAT was downed by 0.5%. How much more Russians could lower their wheat price from here? $215/MT was the lowest Russian milling wheat price since 2020.</article></body>

FEB 26. Funds are selling Mega Cap stocks..Really?

Goldman Sachs reported today that hedge funds are beginning to sell those hi-tech stocks. What’s going on with all those AI fancy stories? Instead, funds are buying those old school stocks such as Nestle…

Nippon Steel are buying symbolic United Steels at $15 billion, paying much higher than market value.

As we all know, commercial real-estate industries are quickly dying in US… As commercial property markets are dying, regional commercial banks are also dying together.

So, let’s be honest, USA is really OK?

US stock markets were easing a bit today.

Yes, agree…last week was too hot and overheated. Market needs a kind of resting time.

DJ Index was downed by 0.2%, S&P 500 index was downed by 0.4% and NASDAQ index was downed by 0.1% today.

Funds were sellers today on those high-tech AI stocks, making good profit. But let’s see how long this selling wave on high-tech stocks would continue.

Apple was downed by 0.8%, Amazon was downed by 0.2%, MS was downed by 0.7% but Tesla was up 3.9%. Japan’s Nikkei index was up 0.4% again, ended at 39,233 points.

US Dollar was eased a bit today.

US dollar index was downed by 0.2%, ending at 103.78 points. Euro was up 0.3% against US dollar but Japanese Yen was downed 0.1% Japanese Yen ended at 150.71 yen per dollar. Japanese Inflation numbers will be out tomorrow.

Gold price was downed by 0.2%, ending at $2,030.57 per Oz.

Crude oil price was up based on another possible turmoil in Israel. Peace talk is going on but seems not in smooth way for sure. Israel’s target is clear, full control over all Palestine which Palestine people wouldn’t accept.

Based on NYMEX, Brent oil price was up 1.1%, ending at $82.53 per barrel. Let’s wait and see… but demand is not looking so good at all.

China is holding the key.

In the agricultural markets, similar tunes were found with US stock markets but in opposite ways. Market was clearly oversold and need a kind of resting period. It’s end of the month and FND week…

Let’s see some details.

CHICAGO CORN MARKET was up 1.8% today. Quick response from funds covering their NET SHORT positions. Based on CFTC report, FUNDS have more than 340K LOTS of NET SHORTS which is the largest number in 52 weeks. Under $4 in CHICAGO MARKET means a lot and price have rebounded back above $4 lines in technically today.

Good rains poured in Northern Argentine and Southern Brazil over the weekend but dry on Central Brazil. As of the last week, Brazil’s SAFRINHA CORN has been planted 57%, well ahead of last year’s 40% progress.

Corn basis is firming up everywhere as futures prices fell under $4 last week. Farmers selling also has been slowed down.

CHICAGO SOYBEAN MARKET was up as well. SOYBEAN PRICE was up 0.3%, SOYBEAN MEAL price was up 0.9% and SOYBEAN OIL price was up 0.9% today.

Brazil’s new crop SOYBEAN harvest has been completed about 40%. It was only 30% last year and 5-year average, 33%. 3 more Brazilian soybean vessels left and heading to Southeast ports in US. SOYBEAN OIL and MEAL will be followed soon to US from South America.

CHINA’s number of hogs are keep decreasing due to extremely low margins. Chinese government is estimating that hog number as 40.7 MILLION HEADS in February, 1.8% down from a month ago and 6.9% from a year ago.

This coming Thursday, it’s FND for March delivery and technically, $11.25 will be STRONG SUPPORT LINE for now.

PARIS RAPESEED MARKET was unchanged and CANADIAN CANOLA price was up 1.3% today as drier weather for DRY PRAIRIES.

CHICAGO WHEAT MARKET was up 0.7% today, supported by FUND’s short covering and technical rebound. Strong US wheat export numbers were another bullish factor of the day. 482K TONS of US wheat has been exported last week, 62K TONS increased by week. Russians have lowered their milling wheat price again by $5~$9 per TON.

LONDON FEED WHEAT was up 0.5% but PARIS MILLING WHEAT was downed by 0.5%. How much more Russians could lower their wheat price from here? $215/MT was the lowest Russian milling wheat price since 2020.