Looking at the weekly continuous soy meal chart tells me that a sizable percentage move in this market maybe on the horizon. This comes as funds who were long most of 2018 flipped from a once sizable long position (pre-tariff) to a light net short by late November. Still the market has held a key trendline coming up the page …
Market Information
There are problems developing with South American weather as Argentina remains too wet to get the final 25% of the wheat crop harvested and there are regions in Uruguay, Paraguay and Brazil which are getting too much rain and/or too little rain which is a mild concern as the bean crop has been enjoying great weather until the past …
Shutdown Survival
The weather in South America is getting a little sour and that might generate a little more interest for getting end users to accumulate some beans and wheat..Hopefully, a downturn in the potential for an increase in the world supply of oilseeds will get China and the US to find an agreement to the trade deal…………….and all the unicorns …
Cocoa Option Strategy
In my opinion Cocoa can potentially rally further. May futures 2,415 last of this writing, even with the 2018 rally of almost 23% I am looking at a potential of 2,600 to 2,650 in May Cocoa. Issues with hot dry weather effecting both late main crop and mid crop production. An El Nino weather event potential, pod eating caterpillars effecting …