The Seasonal Rally doesn’t disappoint We rolled higher led by beans and meal. Oil share taking a pounding yet again. As I have said , we are entering a buy period as harvest is coming to a close. And, the market now looks to South America for production. I have essentially written the same article with different thoughts and words for a couple weeks. This rally, in my opinion presents a opportunity. especially for the hedger. Look to sell any further rally above tonights close. for both old and new crop. All the way to 2019. The fundamentals are not bullish. Unless the weather remains, or is a problem in south America. The oil share is under siege. This is fine as well. It gives the market time and a fresh look. I really lack any more thoughts. I could go on about the fundamentals , but this is technical. lets see next week and eye the next long term move. Patience is sometimes rewarded.
Happy Thanksgiving,
Be Well