CBOT Falls Sharply on Coronavirus Global Spread Worry; Funds Sell 5-7,000 Contracts of wheat/soybeans/corn; Watch US Livestock For Hints of a Bottom

CBOT ag futures are sharply lower at midday with wheat and soybeans pacing the decline on the expanding coronavirus pandemic fears. CBOT wheat has fallen below its 50 & 100 day moving averages (and January lows) which has sparked wholesale fund liquidation. Funds are long a record amount of Chicago wheat and they are selling…

Soybeans Bounce on Large Fund Short Position and Wet Northern Brazilian Weather Forecast: USDA Outlook Forum Starts Thursday AM

Midday New Speculate Advice Update:                                    1/ Take profits on 1 April Hog at $67.30 or    better.                                    2/ Take profits on 1 June Hog at $83.40 or better.                                     3/ Take profits on 1 April Cattle at $120.60…