The markets came under pressure after rains received this weekend. The temps were hot in some parts of Argentina however. This is still causing some concern as the dates are getting a bit late and planting still needs to get done on reasonable area in Argentina. The forecast for this weeks looks a bit drier. given today was Monday a typical bounce may ensue into Tuesday. My contention remains we are changing the long term outlook in the soy complex, and there is a ample supply of meal and a record amount of beans. Given the high crush margins look for little slowdown in the monthly crush figures. Anything can happen, and who knows if mother nature stays so dry there is terrible damage. But today I believe rallies are opportunities for the hedger. Especially the 2018 and the 2019 crop years.
Be Well