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Ontario's middle east | I think we have to be careful strictly looking at US numbers. This has clearly become a global market. Many global producers have had a love affair with the soybean and we have coupled that with cheap and available ocean freight. The International Grains Council does project further growth in consumption and at the same time trimming production a tad due to more adverse weather conditions. The trouble is they forecast ending stocks for the major exporters to grow significantly. That looks to me like a growing stocks to use ratio on the world stage and that ratio seems to have a fairly tight correlation to price...... A good reason to maybe remain defensive on price. Now I wouldn't expect that to be a smooth straight line so having some target orders working to pick off some of the bumps along the way, may be a better plan then expecting an El Niño inflicted disaster somewhere. A prepare for the worst and hope for the worst sort of deal.
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question on how the trade views current soybean accumulated exports
