The USDA report is now behind us. Looking at the numbers.The soy carry went up to 445 million bu. The 20 million addition is due to the export competition. The global carry was raised to 98.32 mln tons. This is a record. This also does not take into consideration a increase in the Brazilian crop. The USDA is as much as …
Ag Commentary
The beans and meal again came under pressure. The weather was predicted to remain Hot and Dry in South America going home on Friday. Today that has changed and the market sold off. The fundamentals are bearish. there is little room for argument in my opinion. However the funds are long beans and meal and will want to stay if …
Ag Commentary
The commentary will return monday Happy Holidays
Ag Commentary
The beans took another beating today along with the meal. The weather in South America offered a bit more chances for moisture. There remains some long term questions regarding the dryness. The export sales remain disappointing and are well behind a year ago. This will add carryover most likely in the next report. The technical outlook now offers support and will until the …
Ag Commentary
The markets broke today sharply because stats Canada released the crop estimates. The Canola crop was upped considerably. In addition a few more specs of rain are predicted. The longer term will still remain dry at least at present. The funds bought meal going home and drove it back up towards unchanged. The South American crop is important and a …
Ag Macro
The Soy continues its rally based on weather. The general belief now is that south America is under a La Nina scenario, which if true, could bring dryness to much of Argentina through the spring. some of this is speculation but the chance is there and has the market thinking. It is estimated funds bought beans as much as 8,000 …
Ag Commentary
The markets are rallying led by meal and beans. The meal market is held up on good Chinese demand, and a thought that SA weather presents risk. I don’t want to write to much about this. The Chinese demand is nice and is legit as the demand for animal feed is positive. But needed for global demand. The SA production …
Ag Outlook
The beans were pushed higher with fund buying today. The weather outlook in Argentina calls for a drier scenario. As mentioned that’s all that the market needs to see. The funds have made a buy play numerous times during this time period and been right as the carry has declined. In addition the meal has been the leader with a …
Macro Ag
SOY – The bean market overall had a lackluster day. The oil share lost again today and remains in a lower end of a range. Weather is the key word today and the primary focus barr anything. this makes little sense to me considering the global growth in the carry , but viewed as a price opportunity I suppose. The weather …
Macro Ag
The markets really are fairly void of volatile moves. the days seem to labor through of late. The oil share made a significant gain back today. Yesterday saw the opposite. Looking down the line. The beans will be focused on the weather in South America. It is early from a calendar perspective. There will be much adjustment in coming days …