Commentary: The beans and meal were both under pressure. The reality of the market is an ample global supply of beans. The domestic carry is ample. The question is will bean acres remain constant. The planting pace is quick thus far. This looks true for both beans and corn. The Chinese are due in for US beans. The Brazilian dominated …
Soy Commentary
Commentary: Some general thoughts given the surreal environment we are navigating. The fundamentals of each market will dictate the price discovery. However it may be of value to consider how quickly the perceived fundamentals can change. Especially given the fact that approx 3 Trillion dollars have been and is in the process of being moved into the economy in one form …
Soy Commentary
Commentary: The beans were up today following some strength in outside markets. In addition the Chinese made a purchase of 200t tn. This proved to get a bit of excitement going that the Chinese would continue to follow through on the trade agreement. It seems logical that given the covid they have much more reason to follow through on any agreements …
Soy & Corn Commentary
Commentary: Today was an historic day in some sense. The crude traded down to negative $40. Yes that is correct a negative. The situation dictating someone will get paid to essentially take the crude. This has ramifications on the global structure of many commodities. The long term scenario needs to be digested as rash decisions are not advised at present. …
Soy Commentary
Commentary: The beans remain mid range of the last months trade. The fundamentals are not overly friendly given the global carry. However, the domestic numbers have been supportive. It is possible the Chinese start buying US beans going forward. The Brazilian has dominated over the last couple of months. This month as well. The pace is not sustainable with production …
Soy Update
Commentary: The USDA released the stocks and acreage estimates today for March. The soy stocks came in at 2.253 billion. This was larger than anticipated. The acreage came in at 83.5 mil acres. This was smaller than anticipated by approx 1 million acres, but still up from 19 by 7.4 million acres. As mentioned over the last couple of days, …
Corn Commentary
Commentary: The corn market did a good job today closing higher. I say this because it looks as though the funds sold up to 2000 contracts on the day. The big talk today is that a large ethanol producer shuttered today for a bit. This is an ongoing trend and is of concern to the corn demand story. In addition, …
Soy Complex
Commentary: The soy was mostly mixed today. The fund estimates for the day, for those watching, were sold 1400 contract beans, bought 1000 meal sold 1000 bean oil. The meal was able to close higher despite the fact that Chinese meal was sharply lower last night. There are many unanswered questions that will have an impact going forward. Will the Chinese …
Soy Complex Commentary
Commentary: The soy came under some pressure today. The pressure stems from a couple thoughts. The USDA will release acreage estimates soon. The thought process is the bean acres could increase by 9 million acres. In addition, this recent rally could add 1-2 million more acres at the expense of corn. This is an idea floating around. The question is, …
Corn Commentary
Commentary: The Chinese have purchased approx 1 mmt of corn. There are thoughts that they could purchase another 1.5 mmt in the near term. This is a positive to be certain. It looks as though the near term low basis may of 332 could be the temporary low. There are a few near term supportive factors. However, it can’t be …
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