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USA Harvest, Euro Currency woes - Money Making Mondays
Monday, September 26, 2022 at 3:30:19 p.m. UTC
Money Making Mondays
Top 3 – Things to Watch this week:
1. USA harvest is now in full swing. Expect harvest pressure, but real yields are still unknown. Market is expecting a below trendline yield.
2. Both the Euro and British pound are weak relative to the US Dollar. This will make their imports more expensive.
3. Recession fears are now dominating the mainstream media. In theory this will decrease demand; however, global supplies for ag commodities are tight. This means that a decrease in demand will not affect prices as much.
This week’s Action Item:
Last week I had recommended a target price of $12 for CPS wheat for 50% of production.
I think a target of $20 on canola is also wise for 50% of production.
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