{"id":2186,"date":"2017-07-13T05:57:54","date_gmt":"2017-07-13T11:57:54","guid":{"rendered":"http:\/\/www.ctsfutures.com\/?p=2186"},"modified":"2017-07-13T05:58:13","modified_gmt":"2017-07-13T11:58:13","slug":"morning-thoughts-2017-07-13","status":"publish","type":"post","link":"https:\/\/udg.ehs.mybluehost.me\/morning-thoughts-2017-07-13\/","title":{"rendered":"Morning Thoughts – July 13"},"content":{"rendered":"
<\/a>Crops<\/u><\/strong> – One thing I most certainly got wrong was the expectation for a smaller than expected spring wheat crop.\u00a0 I think NASS\u2019s starting point is clearly too optimistic.\u00a0 I\u2019ll present the following charts without much commentary as they pretty much speak for themselves\u2026.<\/p>\n So clearly I think NASS is optimistic on their projections for both yield and harvested area.\u00a0 We\u2019ll see how this shapes up.\u00a0 Despite my pessimism towards crop prospects relative to NASS, I do view the MW board with some skepticism in the short term here as well.\u00a0 The speculative fervor has swelled in MW quickly, with lots of different news\/financial articles published on the move recently.\u00a0 It is plain that this market is loaded up with bullishness.\u00a0 In the long run, I think that is probably the right call.\u00a0 In the short run, we know corrections in such an illiquid market can be highly unforgiving.\u00a0 Be careful.<\/p>\n Please note this is just a small sampling of commentary available to clients.\u00a0 Please visit \n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n
\nNo major remarks to make following yesterday\u2019s USDA report deluge.\u00a0 For the most part, things fell pretty close inline with our expectations yesterday.\u00a0 I didn\u2019t get everything right of course, but generally speaking things trended as expected.<\/p>\n<\/p>\n
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