The soy complex continues to erode . The beans and the meal are the down side leaders. Not much has changed in the last 24 hours.There were some beans sold to china and unknown. This export expectation is dialed into the market. Without the sales the market may begin to act more bearish. As mentioned the report on the 31st will be very important to price discovery. Continue to expect a move towards bean acres,the guesses range from 4-5 million. In addition south american production continues to expand. Is there a price the fund length needs to start to liquidate? One would think. but this remains to be seen.
The oil share is gaining slowly and should continue to work in a positive direction. The veg oil market remains a bit positive ,while the protein market is well supplied. In addition the ddg availability has been high with no relief in sight. lets see how the week finishes out
be well