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Middle Tennessee | I was speaking to a broker a couple years back, and commented on some chart observation on the dalian exchange meal contract, and the broker said, well you can't trust that. It's true, Chinese traders love volatility to a degree that would make the most cynical trader in Chicago blush (google shanghai chaos group), but those guys are the bean market makers. I urge caution regarding making chart inferences from the double-gap explosion this month, I saw jp had made a cautionary comment a couple days ago too. It was so hokey, 10 or 15 million corn acres burning up into pollination, and it's the beans that go nuts. Fact is we have more acres here in the US, and very large global inventory. I did see the brazilian currency had a nice bump today, even so, how long can those guys keep 114 million tons in silo bags? | |
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Bringing new crop soy sales up top
