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NW Indiana | Nat tends to look at production as the number one factor. There is a major story with production as this soybean crop will likely turn out to be the smallest since 2019 on total production and the yield coming down a fair amount from the stupid August number Lance put out. But what Nat is missing is the importance of the largest customer being missing in action. We seen the last time we tried this trade war with China how they embargoed purchases from the US and ending stocks quickly built. It would be hard for a fund manager to get excited about going wildly long when your number one customer is gone. It is safe to say the trade war is easily costing us a dollar off the soybean price currently and could end up being $2 before its all said and done. | |
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