The markets are rallying led by meal and beans. The meal market is held up on good Chinese demand, and a thought that SA weather presents risk. I don’t want to write to much about this. The Chinese demand is nice and is legit as the demand for animal feed is positive. But needed for global demand. The SA production is early. But as I have said the market will dial all issues in early. So here we go. The bean and meal are above moving averages that I watch. Until a change buying is going to be there. The reality is the funds are looking for a play to push this up. Now, that could change at any second. but it is where we are now. Let meal and beans run their course. However, the 2018 and 2019 need to be watched for a hedging opportunity.
