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Some Don't Believe We Are Hearing The Truth Out Of Brazil
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dolittle
Posted 2/18/2017 07:56 (#5847442 - in reply to #5847416)
Subject: RE: Some Don't Believe We Are Hearing The Truth Out Of Brazil


northiowa - 2/18/2017 06:41

how many long contracts do you have?


I have right at 100,000 bushels of beans in bins. I also found this in my morning searches which kind of takes the other side of the yield estimates being put out.

AgResource has pushed estimates of Brazilian soy production to 107 MTs this week. Reports from producers in most of the Midwest and South of the country are very optimistic with yields above the 2010/11 record (around 52 bags / ha for both regions).
The fall in prices in the CBOT is under pressure from the market's high confidence in a gigantic harvest in Brazil. Which started with estimates just above 102 MTs, and we now anticipate an additional 5 MTs due to the favorable climate scenario over the last few months.
ARC Brasil believes that there are still chances of Brazilian final numbers reaching 109 MTs, in case Rio Grande do Sul will receive new rounds of significant rainfall in the coming weeks. |
Official fund numbers show that more long positions were stacked during the week of February 8-14. Funds should not "drop" the commodity market anytime soon.

I forgot I do have 20 9.80 put options that are most likely going to expire this month worthless I would be willing to sell cheap.

Edited by dolittle 2/18/2017 08:07
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