East Central South Dakota | "Much of the talk today was the China is cancelling South American purchases with the rumors running anywhere from 15 to 40 vessels of beans being cancelled. We haven’t seen much in the way of Chinese cancellations of USA purchases lately which leaves the trade pondering a historically tight carry-out and could create the nervous energy for the old crop beans to move sharply higher before this deal is over. "-------Craig Haugaard, NCFE
Something down south is not passing the stink test. I have a strange feeling the big SA crop is shrinking a little more than we know. Maybe USA crops not as big as we were told also. If you tell it often enough and believe it and sell it--people will start to believe it. Hope SA has enough to import to us this summer. Lots of moving parts in the markets right now, which could mean selling opportunities or watching a couple of dollar move after the bins are empty [calls maybe ?]. March 31, reports loosing importance I believe. We will trade report for a few hours [maybe a day or two] and will be all weather after that. |
China finally cancelling beans-------SA beans that is
