The soy was down after yesterdays rally. A few things to consider. The weather is improving. The week into next should show improved harvest. This time next week we could be beyond 50 percent . It is my thought that the market just gave the producer a approx $1.00per bu rally right in harvest with a record carry. In addition the one time governmant payment will make sales look good. The new crop beans gave a 950 price to sell. It is my belief this price is healthy and needs to be taken advantage of. The was a new case of African swine fever discovered. This time the farm was a 20,000 animal facility. There are growing concerns with this situation. Time will tell. The Nopa crush showed a record as mentioned yesterday. The oil stocks were friendly under the scenario. Will we ever see a oil led market ? The bean market will trade lower over time without a major issue.
800 993 5449 jwalsh@walshtrading.com
” THERE IS NOTHING PERMANENT EXCEPT CHANGE ” HERACLITUS
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