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Buxton ND | This was the corn/bean ratio at its high on Thursday. That's Ungodly high given the acres of beans we have............. IMO that is quite a weather premium to corn built into the bean market.
We've had MONTHS of buying beans/selling corn, UN-winding of these spreads in the next week or 2 is probably the best thing the corn market has going for it................... Beans,,,,punch out a 2.4-2.5 ratio given a steadyish corn price. Another reason I'm being a stubborn SOB on my bean hedgies.
Did these Unwinding get started on Friday ? ? ?
Spec fund money loves playing spread also.
We'll see how this plays out but if I had been the Chinese buyers, I wouldn't have bought a thing in the last 2 weeks. | |
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Soybeans
