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S Illinois | What you are mentioning is also known by the market. Likely 99.9% accurate that the Brazil soy crop will be between 101-107MMT. A MMT here or there will not move the market. Oh wait, I forgot it is a MMT of production out of SA, which is more important than that same MMT of production out of the US.
An additional corollary is also that many people are betting on SA shutting down any and all exports out of the US and therefore will succumb to the same thing that happened last winter/early spring. A constant drumbeat of sub $8 bean and sub $3 corn and therefore sales at historically weak times. Wonder how many people are having a tough time meeting with the banker because every analyst had them selling sub $9 beans and $3.50 corn last spring? | |
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Mike florez/agday
