Ag Commentary

The soy complex traded both sided of unchanged. The weather has moderated, with more rains received than anticipated. The big story of the day was the gain in oilshare. The crush was approx. 6 million larger than anticipated. The oil stock are 200+ million lbs lower than a year ago. This plus the general strength in vegoil markets helped the gains. Looking forward more rains are needed. The market really wants to believe in the potential for a weather driven rally. Therefore we may not really break hard this early in the growing season. look for rallies as opportunities to sell. producers can take coverage on rallies. look for the oil share to start to make gains.

Be Well