Ag Thoughts

John Walsh General Commentary Leave a Comment

The usda report offers some opportunities perhaps. Like all opportunities grab them while you can. The soy carry was reduced to 640, mostly due to a reduction in yield. It is premature to reduce to much. The 640 carry looks better than the 755. The Chinese are buying and looking at the PNW. This is supportive. The Vegoil markets have some positives. One thought, look at the nov 2020. Above 950,or close to 970 is a selling opportunity for hedge. The carry is down,However,640 is historically, and the global price will push more SA acres to beans. A bit dry at present,watching. Watching crush margins , may be witnessing highs.

The feedgrains were fed another bearish report on paper. The numbers were apparently already baked in the cake. One thought and it is brief, the reduction of 1 bu in corn may signal more to come. The corn yield in my opinion is questionable. The combines rolling will give the real scenario this year. Exercise caution.

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