lean hog calendar spread J/M has been a one way trade as too much supply now ,may lead to not enough later as farmers pull back on Supply.Summer cant get here soon enough .
The Chinese Yuan has strengthened to highest level in about 2 years vs. dollar. WSJ is reporting and I tend to agree that this strength could be a move by China to appease the White House cries of China devalues Currency to help trade.A few other notions were provided within story but I believe a move like this is a subtle attempt to shrink the balance of trade between 2 countries.
Moving past 10:30 European cash close DAX paying little interest to today’s movements in Nasdaq. Likely most Europeans gone on holiday and will be quite happy for DAX to move little. Dax closed -.3% and France’s CAC unchanged