The soy was modestly lower in beans and meal. The oilshare gained. I am lacking much insight today. The soy is at a key level and if beans break through 950-940 is in the cards. I am not a bull , no secrets here. I believe the market is way over supplied and the funds with their buying ability have pushed us out of a historic norm as I perceive it. That is not to say we cant rally , we can. I just am viewing the rallies as selling and hedging opportunities. I will continue to watch meal , the crush which gained today and the corn vs beans ,this last has been working quit nicely. protect profits ! It is my belief we are on a large shift and beans are moving from the leader to the follower of the complex.
The Corn eased today. This should be short lived. The fundamentals are supportive in my opinion. I have been beating this drum for some time. The acreage and season are important. It is possible to tighten this carry further which would be met with higher prices. It is my belief we will witness some reason for corn to need to add risk premium. Look to buy weakness with a quantifiable risk parameter. Remember the Corn is not a runnaway bull, rather a market with reason for support and a market with more upside potential in my opinion.
This article was a bit short. I have been speaking about the same things for some time. To discuss long term outlooks in the market feel free to ive me a call 800 993 5449 jwalsh@walshtrading.com
” EXPERIENCE IS THE TEACHER OF ALL THINGS ” JULIUS CAESAR