Commentary:
The soy corrected across the board today . The beans , meal , and oil ,with the vegoil the downside leader on a relative basis. The funds appear to be lightening the length on some profit taking perhaps . The crush for Jan was released . Another record for the month at 196.5. The all time record is 196.6 mil bu . This was up from last month at 193.7. The blistering pace continues . The uSDA will release supply and demand this month as well as acreage intentions . This will be important , as well as the Chinese demand out look . The pace for beans has been significant . The corn market also settled back today . The market is now looking at the export pace actual vs what is needed . The market will need to pick up shipments to stay on pace with the projections . The recent numbers are strong from last week . More will be needed to fuel the bull market . The corn in my opinion can trade 5 – 10 cents lower then should catch hold . The question then will be do we have another leg up
BE WELL,
John J. Walsh
President, Walsh Trading, Inc.
800-993-5449
312-208-8836
jwalsh@walshtrading.com
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