Soy Market Commentary

John Walsh General Commentary, Grains Leave a Comment

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

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BE WELL,
John J. Walsh
President, Walsh Trading, Inc.
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