Commentary:
The soy continues its rise. The exports have been very strong and are running well ahead of the estimates. In addition the crush will continue to run at a record month to month given the margins. This will drive the pace. The thought is that the Argentinian strike will continue to drive the need for protein from the US. This somewhat remains to be seen. However, the longer the strike goes on the better in theory for the US export program. The one market that remains stout in my opinion is the global vegoil market. This may take some time to change given the global crop prospects. The weather in South America needs to be monitored closely. There are different forecasts. The end result is that there are still areas that remain too dry. This at present remains supportive. It is important to keep in mind how much the market has moved up. Although it appears there may be more upside potential.
Be Well
Trade Suggestion(s)
NA today
Risk/Reward
Futures-
Options –
BE WELL,
John J. Walsh
President, Walsh Trading, Inc.
800-993-5449
312-208-8836
jwalsh@walshtrading.com
www.walshtrading.com
Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member.
Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. The information contained on this site is the opinion of the writer or was obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in market prices. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. (“WTI”) shall be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.