COMMENTARY: The bean market corrected today. The trend has been up in a very large protracted way. The weather in the southern hemisphere has been the key driving force. The market took a breather today due to the USDA report tomorrow, in my opinion. The two week weather outlook appears to remain hot and dry in critical areas. The reality …
Soy Market Commentary
COMMENTARY: The bean market corrected today. The trend has been up in a very large protracted way. The weather in the southern hemisphere has been the key driving force. The market took a breather today due to the USDA report tomorrow, in my opinion. The two week weather outlook appears to remain hot and dry in critical areas. The reality …
Soy & Corn Market Commentary
COMMENTARY: SOY The soy is moving higher for all the reasons discussed yesterday. The vegoil was led higher by the palm at all time highs. The meal bounced in a rather large way based on demand and bean tightness potentially. The weather in South America is the driver and until more is actually realized will continue to be the driver. …
Soy Market Commentary
COMMENTARY: The soy was sharply higher yet again. The market moved higher throughout the session. The bean oil was again the leader as oil share continues to surge higher. There are a couple reasons as mentioned yesterday for the price increases. First the palm oil has continued to exhibit strength on a lack of production for various reasons. In addition, …
Soy Market Commentary
COMMENTARY: The soy complex bounced today. The market rebounded based on the bean oil strength. The oil share is bouncing, currently at 44.3%. The range over the last month or two was 48% high to approx 40% low. The recent run up in crude oil has put a floor under veg oils. In addition, the global vegoil markets have yet …
Soy Market Commentary
COMMENTARY: SOY The USDA chose to leave the current balance sheet in place essentially. They reduced the global numbers in a modest fashion. The market has held sideways to firm with a stronger export pace through November. The year on year is still down and looks to continue a down trend in dec with the Brazilian harvesting some early beans. …
Soy Market Commentary
COMMENTARY: BEANS – The beans rallied today for a couple reasons. The weather in southern Brazil is turning more hot and dry. In addition parts of Argentina and Paraguay. The reality at present though is the majority of the Brazilian crop is in very good to excellent shape. As well as an abundance of old crop stocks. This however is …
Soy Market Commentary
COMMENTARY: BEANS – The beans were under heavy pressure today. There are a couple reasons for this. The overall market structure outside the AG sector is starting to show weakness. The concerns over the new variant, regardless of reality, are pause for concern. The Crude market as well as stocks also contribute to an overall weak feeling in the AG …
Soy Market Commentary
COMMENTARY: BEANS – The bean market was moderately lower today. Of note is the recent two week climb. The beans have rallied in tandem with meal strength. The overall thoughts of inflation, recent Chinese purchases have propelled the bean’s to a higher level. The fundamental long run in my opinion remains more bearish than is reflected on the board. The Chinese purchases …
Soy Market Commentary
COMMENTARY: BEANS – The beans were a bit on the defensive today. The harvest progress is rolling along at 92%. This contributed. In addition the weather in South America is very good. There are rains forecast through the next week that will further development. It is clear the crops in Brazil look very good. The Argentinian crops are good but …