Ag trade ideas

No frost scare or aanything, but it is on the move today

 

Short ZR K/N@ -0.155.

- WASDE showed record US and world stocks.
-K/N overvalued compared to H/K and N/U.
-Seasonals.

 

Short RC K/N/U butterfly @ 4.

- Ample supplies in Vietnam and Brazil's Conilon crop.
- K/N overvalued compared to the rest of the curve.
- Arabica/Robusta spread quite low.
-Seasonals

 

Anyone know why FC K9 is going up much faster than others FC ?
Meats markets are really in crazy mode because of the flooding & because of ASF & thus china imports

 

It seems FC K19 is coming back in line... more or less...today

 

Short ZS X/F/H butterfly @ -3.

- The trade deal has been close to get reached for 3 months...
- Even if it is reached, the carryout is gigantic and wheat gaining soy acreage is far from sure in the high plains.
- X/S overvalued on the curve.
-Seasonals.

 

Out @ -0.1. Big orders protecting inversion.

 

Long Hogs K/M @ -8.05.

- I needed to take part of this ASF craze at least once, right?
- Apollo J/K is launched.
-K/M still at sea level or even deeper in the ocean.

 

Out @ -14. Small loss. Looking at the charts, I don't know why I decided to take this trade at the time.

 

Out @ -0.145.