The soybeans ended a bit lower, along with the soy meal market. The weakness continues based on the higher ratings and concerns regarding the Chinese US relations. It is possible the beans and meal pause for a minute here before going lower. The beans are made in August as the saying goes and the market may wait to see a more long term view. The main aspect of the complex has been the rise in oil share based on friendly global fundamentals. In addition, the crush has rallied approx 20 cents . This to me seems overdone but could certainly go higher. I have little to offer at present . It is my personal belief that the long run for beans presents bearish head winds . The near term however could still offer a bit of friendly news.
John J. Walsh
President, Walsh Trading, Inc.
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