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Buxton ND | So now the $5 cornborebull is calling us cockroach's ? ? ?
Not so much in Matto Grosso for rain's yesterday or today, but alot of the rest of Brazil and SA got good rain. More Southern/South west of MG did get rains today but nothing huge.
Could it be there more going on here then just weather ?
If there was a drought in Brazil do you really think beans would be down acouple of cents tonight ?
Remember how the too much rain in the east killed OUR corn/bean national yield ?
Focusing on the rains out east and NOT watching the good area's worked poorly this past summer.
I've been reading producer hedge pressure, the past 2 weeks,,,loud and clear hedge pressure the last days, at a time that the spec money IS NOT there to take the long side of YOUR trades, the last CFTC report backs my thoughts as does price. YES when you as a farmer sells corn that is A trade.
For not much trading going on over the holidays, its a pretty quiet evening so for in grains (not so much beans) Crude started with a gap/bang higher (intra day's) and even that has hit selling pressure. Lots of moving parts in these markets,,, much more moving then Cornbore being LONG.
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Sunday night soybean open
