AG
The overall feeling in the market is concern over weather. This has fueled a rally to close out the week.
BEANS – The bean market was very strong today. The continued leader is the bean oil with oil share surging above 47%. The meal rallied a bit late, attempting to do a little late day keep up. The concern here is the lack of moisture in the northern regions in the US, and the southern regions of Canada. The bean oil is supported by continued bio mandates, tight stocks, and a slowing crush. Important to note, the US soyoil price is way out in front of South America. This is important, but not today. The weather this weekend will play large to start the next few trading sessions. Summer Markets are here. Expect Risk and Volatility.
CORN – The feed grains were supported today. The corn exhibited strength on the weather forecast. The fundamentals globally are known. The question now is when, or if the rains in the northern regions will materialize. The concern is widespread enough where it could make things uncomfortable if not changed. The acreage, as mentioned, looms in front of us.
WEATHER
The weather is a concern in the South Dakota regions. A severe concern in the North Dakota region, and the Southern growing areas through Canada. Dry conditions to be monitored and could turn problematic, are Iowa, N Minn, N Wisc, Upper Mich, Southern Ind, as well as Ohio. The weekend totals will play a part in next weeks price discovery.
BE WELL,
John J. Walsh
President, Walsh Trading, Inc.
800-993-5449
312-208-8836
jwalsh@walshtrading.com
www.walshtrading.com
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