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Theme of today's trade...
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mhfarm
Posted 2/16/2018 08:59 (#6581646 - in reply to #6581604)
Subject: RE: Theme of today's trade...


Kansas City
The Buenos Aires Grain exchange announced projections for their 17/18 crops this year as unchanged from the last report a few weeks ago at 39 MT for corn and 50 MT for beans.

If the weather doesn't change most people believe it will be closer to 35 for corn and 47 for beans.

The bean market seems to not care at the moment as it's still heading higher. Like I said last time about a massive order at $10.20 there's another big order of 2000+ contracts at 10.25. The way we took out 10.20 I wouldn't be surprised if we take out 10.25 just as easy.

They are calling for an inch across most of Argentina so if they get that then the market "should" give some of this rally back but they called for similar rains last weekend as well which didn't happen.

MH















Edited by mhfarm 2/16/2018 09:06
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