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 …
Ag & Equity Market Commentary
General Ag Commentary The Ag markets in general are close to the highs of the last twelve months. The bean, meal, and oil spreads are all inverted as well as corn. This all makes sense given the tight domestic carry. In general, however, today’s action was of some concern. A large move up that ultimately failed. Is the market indicating further …
Soy & Corn Market Commentary
Commentary: SOY (n) crush 61 cents , (n) oil share 36.6% The markets rebounded today. The Brazilian harvest remains a bit behind schedule with harvest. This is the slowest pace in approx a decade. The market is finding some support with this. The other side of the coin is that the Brazilian crop appears to be larger than anticipated earlier. The firm …
Soy Market Commentary
Commentary: The soy corrected across the board today . The beans , meal , and oil ,with the vegoil the downside leader on a relative basis. The funds appear to be lightening the length on some profit taking perhaps . The crush for Jan was released . Another record for the month at 196.5. The all time record is 196.6 mil …
Soy Market Commentary
Commentary: The soy had a very significant move up today. The move was similar to yesterday. The meal led early. The oil took over and meal failed. The fundamental picture has been supportive. There are some considerations here to take not of. First the beans and meal are not the cheapest in the world at present. This does not mean …