Ag Commentary

The soy complex awaits the future. the fundamentals from a historic perspective are very bearish. However, the carry at 430 harkins to the last few years where the carry fell based on the lack of global production. Is this where we are at today ? perhaps. But the Brazilian and Argentinian weather is improving drastically. This will go a ways to growing the global carry yet again. A year to three ago 58 million tons, now almost 100 million tons. 10 beans. Its really not if but when this market starts down. Producers use the board to hedge unsold old crop. sell new crop, this is a real opportunity perhaps

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Be Well

John