Commentary:
The soy rebounded today led by the beans and meal. The weather remains in question and offered support. There is little that is unknown today. The weather will play a key with development. It seems important to note that the soy is not in a critical stage at present. The recent run up should be viewed as an opportunity in my opinion. The meal market in the long run will find resistance when beans top. The concerns continue for the African Swine fever from China. The overall pork production is finding it difficult to rebound. This won’t bode well in the medium term for meal. The crush remains under pressure and should continue to do so. The breaks have been bought with opportunities to sell rallies.
Trade Suggestion(s)
NA today
Risk/Reward
Futures-
Options –
BE WELL,
John J. Walsh
President, Walsh Trading, Inc.
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