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SC Iowa | A bit surprised at how well the back end of the bean market performed today....X19 up 20 vs. nearby X at +24
X19 at 9.52
10.40 X19 soybean calls at 31.5 cents
you have to be a believer in LARGE losses of US bean production from current numbers NOT to be finding a way to start pricing some X19 beans
* if there is a surprise resolution to China issues, it will be in front end of bean futures
* current carryout projection is 885 myn.....take off a 100 myn and you are still at 785 myn
* Brazil appears to be off to a very good start on planting
* you need to decide which risks you want to take, and which to shed | |
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November 2019 soybeans
