Ag Commentary

The Soy Complex was pulled up early be the strength in feed grains. The settlement indicates an uncertainty in the market. The weather looks pretty good in many areas. Concerns over dryness in the Dakotas has the market wondering what could force the funds from their positions. Combined the beans,meal and oil is a large short position. The market will be volatile due to this. The govt report Friday may show a uptick in exports and perhaps a slight reduction in the crush. There is a long summer to go. A normal trend line crop will leave the domestic and global carryover burdensome. The oil share is at a important area. This should be monitored closely and may hold some real opportunity going forward.

Be Well