The summer market has begun. Volatility will be a part of the equation as mentioned before. The rally today was sparked by concerns over a modest amount of heat in certain parts of the country. Also the Dakotas need some moisture. Overall a fairly normal start of the bean planting window.The corn acres are a question and additional bean acres may be added. In addition Informa added to their estimate of the global supply by upping the southern hemisphere production. The US will have stiff competition in the long run. The global stockpile of beans has grown approx. 40 million tons over the past 4-5 years. Production and yield have all grown as the demand base increased,mainly due to Chinas appetite. Lets see how the weather plays out over the weekend
Be Well