The markets continued down today. There remains little to be said today. The wasde report tomorrow will answer the immediate questions. What is the South American crop as a whole. How much of a global reduction, if any will there be. The Argentinian numbers become important in the near term. The long term is another story. There is a ample supply of everything. How it all plays out will be interesting. The acreage remains important as well. A longer term question to ponder. Are we on a major long term shift between beans and corn. Where beans become more dominant acreage wise. Price certainly has a role to play. Also the desires of the largest consumer, China. Where are there thoughts on this. Brazil will certainly be a formidable supplier of soy this, and coming years. The US certainly has a significant role. But like in most things we now are a piece of the pie. Not the whole thing. I personally dont see how prices can remain this elevated for to long. Today the markets have offered the US producer a chance to lock up a profitable year. Lets see where the future takes us. In my humble opinion tomorrow will be important.
Corn- I am looking for a confirming report of all the issues spoken about over the last few weeks. Corn has a friendly story, but may have run its course for the time beeing. Demand should prove solid. The acreage remains a key unanswered question. I would like to see a reduction in acreage. It is my opinion this would allow for a reasonable chance for further gains under the right scenario. Let see
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