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central ontario | In a world soy production carryout no. of 82mmt for the current production year it just seems that the slightest reduction of say 4 to 5 mmt is able to jump start the soy complex,world demand is great but not using up the new production thou.
The carryout no.has come up from the mid 65mmt area .From just a short while ago soy stocks have \ tagged on some 17mmt to the carryout and yet we have soy trading some $2 higher then last year at this time.Carryout is more then likely not 82mmt but much lower,these are just estimates.
SPECULATORS JUST LOVE THE SOY MARKET AND HATE TOO LEAVE THE GAME.The growth in carryout should have put a lid on prices,with the trend being up thou, who should argue with the price being traded that is trending UP with some reduced US carryout nos.still to come for the 2016- 17 soy marketing year. | |
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Mill quality HRW Wheat basis bumped higher.
