The Markets rebounded in general today. The soy was led higher by product strength. There are a few considerations at present. The USDA will release stocks and acreage tomorrow. The expectation for beans will be a slight reduction in the old crop carry. The new crop carry should hover around unchanged from the previous month. The second factor I am paying attention …
Soy Market Commentary
The soy complex was under pressure a bit today. The leader to the down side was the bean oil. The thought with bean oil at present is the palm oil stocks are starting to increase a bit. In addition, the Indian situation with respect to covid can and will slow oil consumption. India is the largest veg oil consumer. This …
Corn Market Commentary
The corn market continues to roll. The focus this week has been more related to the new crop. The old crop has not failed, however the July Dec spread has given back approx 30 cents of its inverse. The domestic carry is a feature, of course, as the stocks to usage are supportive. The most friendly aspect of the market …
Soy Market Commentary
The soy has been on a very respectable run. The markets continue to be fueled by the tight domestic carry. This will remain until the new crop is harvested. The global numbers remain ample. That, at present, is not the driving factor. The market remains off the contract highs at present. There are a few considerations here to be mindful …
Soy and Corn Market Commentary
SOY The markets are liquidating. The price action today was led by soyoil. The USDA report tomorrow will be interesting. The stocks number is important. The expectation is for a draw down. However, if the govt finds stocks that would be a surprise and would shock the system. An increase in stocks could lead to further liquidation. This is of course …
Soy and Corn Market Commentary
The soy had a healthy rebound today. The leader was the soymeal. The recent trade had meal breaking $40-$50 per ton. I suppose it was time for a rebound. There are some concerns for the soy in my opinion. The largest is the trade talks between the US and China. In addition to this the South American crop is starting …
Ag Market Commentary
The markets were two sided today. There are some considerations at present in my opinion. First, the Brazilian crop will start to be marketed. This will not add to the US carry obviously. But it will knock the US out of contention in the export arena. This could limit further gains in the short term. It is my thought that …
Soy Market Commentary
The soy today came under heavy pressure. The weakness was led by the meal market. The USDA report did not reduce the domestic carry. In addition, the global carry increased a bit. The Chinese ASF is getting worse by many accounts. The bean sales have been terrific for the past 5-6 months. This however is most likely coming to an end …
Soy Market Commentary
The WASDE report today did very little to change the structure of the market. In essence all the numbers were left the same. The global carry grew a nominal amount. There are a couple takeaways to consider in my opinion. First the Brazilian crop was raised 1 mmt. Second, the Argentinian crop was lowered. However, the plan for Argentina going …
Soy and Corn Market Commentary
SOY The markets firmed today on expectations next week the carry over could decline yet again. The Argentinian crop has been under stress and is most likely in decline. This also has been supportive. The Brazilian weather has been beneficial of late and most private analysts are predicting an increase in production. The end result is the USDA could show …