The soy quiet but lower.
The tariffs are slated to hit more Chinese goods. The African swine fever continues to quietly spread. The market, I believe, will need to deal with the latter for some time. It is there to stay until eradicated. The setup in China makes the spread easy. I remain bearish soy. However, the market has fallen a long way, take precaution. I have suggested bear spread beans. This has run its course. I favor bear spread meal. Quantify your risk. May19, Dec18. The vegoil market may be close to a bottom. Nothing to get a big rally going.
The corn remains under steady pressure today. The last USDA report hurt the bull. The demand is still intact. It is my position there is still a rally before year end. The wheat can’t get going. The global numbers are supportive, but enough out there. Let’s see what happens tonight.
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