The beans were lower early on concerns over China, a lack of purchases, and a large percentage of unshipped beans for old crop. At the end of the day nothing has changed but the price. Beans were able to mount a significant turn around and close 10 CENTS higher. There is hope the US delegation to China can come away …
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 TIME
There is not much to comment on with respect to today’s activity. The feature remains meal strength relative to the complex. I would venture to say that without meal strength beans would be under pressure. The funds remain very long. The concerns over the rosario port will be yet another reason to push meal higher. The weather in the Delta …
Ag – Where are we now?
The USDA gave us the report. Plenty of beans domestically. Now the debate, where is Argentina? Truly, it means little. The world has 26-28 mmt more than 2.5 years ago. It is ok to try to figure all this out. I would like to say, it is time to look at the other side of the coin. We are producing …
Ag outlook, technical levels
SOY COMPLEX The Beans started higher again, fueled by meal. The rally stalled and nominal gains on the day were recorded. The weather in Arg remains friendly as rain has yet to materialize in a meaningful fashion. A few small amounts here and there. This rally has extended itself and seems to be stalling. The impetus is lacking to turn. …
AG – Weather Market
SOY COMPLEX The markets are keenly focused on weather at this point. We have dialed in the recent Argentinian drawdown. However, according to most analysts, further dryness is not dialed in. This may be the case. Going home this weekend it appears that Argentina will remain mostly dry. The real question now is will the US and Brazil make up the …