The Beans and Meal started higher today. Concerns over a port strike in South America was supportive.
There is a regular occurance of these threats this time of year. In addition,rains in Argentina are viewed as supportive. The reality of the market is that the Southern Hemisphere crop is huge by all accounts. Not only Brazil,but the smaller countries as well. The global stocks to usage will swell to the second largest on record. the US planting intentions are estimated to increase year on year by 3.5-5.0 million acres. These rallies may present unique selling opportunities given the fundamentals. The market will continue to be on guard for any changes to the biofuel mandate. Continued talk and speculation is part of the daily happenings.The next move in the soy complex may be driven by the direction in the soy meal market