The markets were down today. The weather has been fairly conducive to bean production overall. There are some problematic areas but that is always the case. The concerns at present are that it turns hot and dry in august. That has had the market on the defensive. The reality of the situation now is that we would need to go a long way to hurt the crops enough to change the domestic balance sheet . Especially as the global supply is unprecedented. The market is waiting for President Trump to appear in Iowa. The thought is weather he will speak about the Argentina anti dumping of bio fuels. That may be the lynch pin the market needs to get the oil share moving to the highs of the last year. Any rallies from this point, which can happen, need to be viewed as opportunities.
Quantify your risk
Be Well