The soy lower today. Moderately so. I don’t have a lot to say today. There is a lot baked in the cake. The US crop is finishing in a very positive light. It seems probable, based on private estimates, that the bean yield will increase from the last USDA report. This is significant as the SA planting is underway. The …
AG TIME – Macro changes
The soy under pressure led by meal. This may be the beginning of something. The meal has been the strongest part of the soy. This has driven oil share down to 30% and the crush margins near record price. The global landscape will shift from a tight meal market ( although I question this was ever the case), to a …
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 …