My two bits.
Short term fundamentals. Tight US old crop supplies US soybeans (US has had to make up the deficit from S. American situation over the past year) versus larger Argentina and Brazil supplies now being harvested.
Talk about poorer than expected yields in Mato Grasso Brazil - fact or fiction and from there impact total supplies. Logistics/politics Argentina. A port strike currently on.
US soybean acreage (Wednesday) and from there yield. US soybean supplies tight at the end of the current crop year so US production needs to stay up.
US soybean oil that continues to hold close to 40 cents/lb. Crude oil will hold vegetable prices up.
Big canola acres. Suspect will all be used up but will be a factor that weighs on the market short term. May be a positive however if weather remains dry and customers start worrying about supplies - need an 11 to 12 million tonne crop.
Short term market sideways to down. Medium term? Have your target prices and stick to them.
Short term fundamentals. Tight US old crop supplies US soybeans (US has had to make up the deficit from S. American situation over the past year) versus larger Argentina and Brazil supplies now being harvested.
Talk about poorer than expected yields in Mato Grasso Brazil - fact or fiction and from there impact total supplies. Logistics/politics Argentina. A port strike currently on.
US soybean acreage (Wednesday) and from there yield. US soybean supplies tight at the end of the current crop year so US production needs to stay up.
US soybean oil that continues to hold close to 40 cents/lb. Crude oil will hold vegetable prices up.
Big canola acres. Suspect will all be used up but will be a factor that weighs on the market short term. May be a positive however if weather remains dry and customers start worrying about supplies - need an 11 to 12 million tonne crop.
Short term market sideways to down. Medium term? Have your target prices and stick to them.
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