The markets again traded both sides today. The oil share was the looser as beans and meal were close to unchanged. The weather has been very ideal of late. However for some reason commentaries are all focused on the what ifs. What if it turns hot and dry in july ? Till then it is almost ideal. Let the market rally if it will. this should be viewed as a opportunity. It will take a major shift to change the global balance sheet at this point. It appears the oil share strength should be with us for a bit longer. Today may well be a correction. However the oil fundamentals remain well supported, while the meal markets globally continue to languish. This is for various reasons. Tonight should be interesting. The weather outlook going home is positive for production. However can not fight the market.
Be Well