The soy was weak, yet again led by the meal market. The weather has been good on the surface with plenty of moisture received through key growing regions of the belt. We now are back at support in the beans at 950. The USDA will release a supply and demand tomorrow, then the acreage at the end of the month. …
AG TIME
There is much going on daily creating back and forth type trade. The soy broke off highs today because the Tariff concerns are still there. Talk of 25% being implemented IF the govt and china don’t work out their issues. There will be a point when the market needs to focus on the fundamentals. The medium term and long term …
AG TIME MACRO CHANGES AHEAD ?
The beans and meal were under sincere pressure all session. The Chinese US trade conflict is cited as the reason. Perhaps it is the catalyst. However, it is my contention that there are other considerations afoot. The domestic carry has been growing, and will continue. The global supply is 20-25 mmt larger than 2 years ago. This is not bullish. …
AG TIME
The soy complex was weak today. The beans and meal both were under some pressure. There was a correction in the oilshare and this was the main catalyst. The bean oil stocks came in lower than anticipated. It is to early to say if the meal has put in a high. The technical picture does not indicate it has. The …
AG TIME
The story remains the same. The meal is leading the soy complex while the large crush pace pressures the bean oil. The oilshare continues to decline at 27.2%. In addition, the meal relative to beans is approaching historic highs. The question is what price either shuts down demand, although not really the issue in my opinion. Or offers other price …
Ag markets on the move
The Soy Complex: The Soy Complex looks to start higher tonight. The soy has been and will be led by meal. The weather in Argentina has participants worried that the global supply of meal will be hurt given the weather scenario. This is overblown, but the market will rally until a comfort from rain is received. The reality in my …
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