Let’s start with the outside markets. The Dollar specifically. The dollar is exhibiting strength. This strength should continue. This has a profound effect on the ag sector. Especially beans at present. It is no secret I am bearish the soy. The markets are oversupplied. And this will continue. It is my belief the meal too is overvalued and the market …
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 – lots of questions
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 – 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 …
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