The soy complex has shown weakness over the last few sessions. The south american weather has been normal to good. The Brazilian crop continues to increase in size, while Argentina has stabilized in a respectable zone. Given the price relationship of beans over corn,it is estimated that domestic acres can climb significantly.
The market is also mindful of a potential increase in the biofuel mandate. A potential increase there will help put more DDG on the marketplace,which could displace some soymeal demand.That may be a reason oilshare showed some gains this past week. The soy complex going forward will continue to be burdened by large stocks. The bull camp continues to look to fund buying based on a assett class mentality.
Enjoy the weekend