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Northwest Iowa | I am a casual observer of fundamentals. One thing that should be noted, though, is that new crop production acres of beans is only a glimmer in the back of most traders minds right now. Much more concerned about the nearby. The crop has been harvested and tucked away so now there will need to be some enticement to pull those bushels out of storage. A higher price is not always the trigger. Could be any number of things and for that matter, there are thousands of producers out there and all have different needs. Think of dog on a leash. He has some freedom to drift side to side but is held in check by the leash. The large crop is not news any more. Everyone knows it so if we have a little more or little less than had been thought is not going to bring a dramatic move. Exports have been good but that can change. SA production is just like the US-nobody really knows what it will be. It is a large area, in fact larger than the US, that is involved. If sales here make sense for you- sell. New crop, the same way. Be careful in the grains for now that we do not read more into the action than is actually indicated. Goldman sachs index in pretty good shape. Crude oil, and livestock have been good. Livestock could be leading the way out of here. | |
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