Soy Market Commentary

walshtrading General Commentary, Grains Leave a Comment

The Markets rebounded in general today. The soy was led higher by product strength. There are a few considerations at present. The USDA will release stocks and acreage tomorrow. The expectation for beans will be a slight reduction in the old crop carry. The new crop carry should hover around unchanged from the previous month. The second factor I am paying attention to is the situation with the Parana river. The low water levels may very well have a ramification to the export market. If so product supplies (meal and oil) could dry up quickly. This would leave the US in a sincere demand scenario. This, in my opinion, is part of the reason meal is rearing its head. In addition, meal has been the weak link of late. Interesting to note, today oilshare still rebounded. My thoughts have been that oil share can trade to 50% or so approx. The markets tonight may well be quiet as the report is released tomorrow.

BE WELL,

John J. Walsh
President, Walsh Trading, Inc.
800-993-5449
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