The Soy was under pressure today based on better rains received over the weekend. There is much to consider. The weather will be key. It is premature for frost concerns. The ProFarmer tour is underway. It appears they conclude the USDA is overestimating soy yields 4 bu to the acre. Perhaps. However it is early to conclude that. In addition,remember it is called Pro Farmer. Meal – The meal was under pressure and should be in my opinion. The Chinese ASF has been a drag on demend. In addition the black sea is ramping up protein competition. Long term trend starting. bean oil – The vegoils came under pressure as well. Palm Oil set back a bit. the weather may have contributed. Breaks in soy oil may be buying opportunities. The stocks are declining despite huge crush in July. The global demand is on the rise, look for long opportunities with a quantified risk.
