Black Sea Extension, Credit Suisse bailout
Monday, March 20, 2023 at 2:48:25 p.m. UTC
Money Making Mondays
Top 3 – Things to Watch this week:
1. Global banking system is in turmoil. Credit Suisse an investment bank is bought by UBS. This just adds more uncertainty to the market.
2. The Black Sea corridor has been extended for 60 more days. This will add bearishness to the wheat market.
3. International Grain Council is suggesting that ending stocks will be tighter this year. This is bit of a long term bullish undertone.
This week’s Action Item:
While this global banking situation is going on it makes is very hard to predict the markets. There are simply so many external random factors that can come into play at a anytime for anywhere. Although, it can be assumed that governments will make things worse, not better.
This is the time to make sure you are comfortable with your new crop sales and don’t get whipsawed into making rash decisions.
USA dollar is trending down. This may cause a slight up tick in US commodities.