Not much to say today with the market. Two sided trade. The oilshare took a healthy beating here. The market is focused on the outside vegoils, and the thought of possible dryness in argentina which would effect the meal. This in my opinion is so far fetched. The reality is that the world is awash with beans. The exports are slipping further behind, and unless the SA crop has a sincere problem, we are really loosing market share. The availability of alternate protein is large, including the DDg market. This is a seasonal play be aware,to buy beans. And, in fairness the last couple years the stocks have drawn down for various reasons. This year becomes the IF card. Lets be patient and look for the opportunities.
Corn
It would be nice to see a 20-30 cent rally here. Given the time of year and the extreme fund short position, it is possible. The technical low may be in. At what rate we climb is a question. The availability of exportable corn remains high across the globe. This will also be the case through dec, look for a tech inspired rally as a opportunity to the hedger. The yield remains solid and bushels are there to still gain a profitable year.
Be Well