COMMENTARY: The soy has rebounded here again led by the bean oil. As I have mentioned, the global vegoil market, while not on fire, is supported. Especially after the recent pull backs. There is little to say today except that the USDA will release the acreage estimates tomorrow. The acreage will allow us to attempt to draw conclusions regarding the carry numbers. It is early at this point and therefore there will be assumptions with yield. It is my contention that the acreage may be larger than the average analyst has estimated. This, if true, would have ramifications. There are at present some concerns again that the Hog market in China is suffering from some ASF in some specific regions. This could be a consideration. The weather risk remains, especially for beans in July and August. The recent weather has helped however and offered some sustaining rain events. Let’s see what tomorrow brings, this could be a mover of a day. Quantify the risk.
BE WELL,
John J. Walsh
President, Walsh Trading, Inc.
800-993-5449
312-208-8836
[email protected]
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.