Commentary: The soy has rallied into an area of resistance. The question now will be what can fuel a further rally. There should be a level of realism regarding supply and demand. I am not sure that is what is driving markets today. The global carry is ample and will grow more without a major weather event. I see the …
Soy Market Commentary
Commentary: The soy rebounded today led by the beans and meal. The weather remains in question and offered support. There is little that is unknown today. The weather will play a key with development. It seems important to note that the soy is not in a critical stage at present. The recent run up should be viewed as an opportunity …
Soy and Corn Market Commentary
Commentary: The soy was under pressure today. Modest pressure. The main reason in my opinion was the scattered showers received. In addition, the lack of a clear cut drought pattern. It is my belief the beans may have a bit more of a rally, depending on the weather. The reality remains that the overall crop conditions are doing well and …
Soy and Corn Market Commentary
Commentary: A couple brief thoughts regarding the markets. I trust everyone enjoyed the fourth. Here we go, the desire to find a hot dry comparison. The 2021 season is drawing attention. First I would say that mother nature is truly unpredictable. Anything is possible. However, it is my thought today that the temperatures overall are normal for this type of year. …
Soy and Corn Market Commentary
Commentary: The Nass report today opened the door for some reasonable expectations and adds a good feeling to the markets. First the soy complex witnessed reasonable fund buying through the day. The report today added approx half a million acres. The trade was looking for a larger gain. The bean rally could extend a bit further and then sales could …
Soy and Corn Market Commentary
Commentary: The soy was under pressure today . The weather remains very beneficial over all. The exports while up from recent history lack the fire power to get anyone excited. The Chinese spent a lot of their recent needs on Brazil. This puts Brazil in a sold out situation. It also makes one think last years crops were larger than reported. …
Market Commentary
Commentary: A few brief thoughts regarding the markets. There remains some unknowns certainly given the global climate. However, the Chinese are buying beans. Some of this is to restock, some is the push to expand hog production to fuel the crush. Regardless, the bean market has a couple near term pluses in addition to the purchases. The USDA 395 carry …
Food for Thought
Commentary: Looking at the current supply demand scenario and the USDA releasing numbers tomorrow. I have pondered what I am perceiving are some possibilities. First the soy exports may be a bit overstated. Second the acreage may well be understated by as much as 2 million acres. These are important numbers given the current global stocks. When I look at …
Soy Commentary
Commentary: The soy has rallied approximately forty cents over the last month. This rally was sparked by Chinese purchases. The Chinese have increased the import agenda in soy in order to replenish stocks that were lower than normal. The Brazilian has been the dominant player to China over the last six months. It is presumed that the crop harvested last year …
Corn Commentary
Commentary: The corn was a bit of an inversion to beans today. The old crop stocks were 2098 bil bu. Smaller than anticipated. While the new crop was estimated at 3318 bil bu. The old crop offered support today with the market trading up 5 cents. The funds are (approx) short 200 t bu. This coupled with the fact the Chinese …