Ag Commentary

The soy complex was lower today as the weather has moderated. In addition the funds have returned as heavy sellers with the continual rain. look for follow through selling to close out the week if the wet pattern holds up tonight. the leader to the downside is meal which enables the oil share to make solid gains today. The fundamentals from a global perspective remain weak in the meal while oil has for some time had a moderately bullish scenario. Look for the oil share to challenge the past months highs at approx. 37 %. We are only into summer and there has been much opportunity and movement. Remember though with volatility and opportunity comes risk. Quantify it.

Be Well