|
Middle Tennessee | I'll tell ya, I've never been more bearish beans. Here is how I'm looking at that market over the last several years: a business model evolved in China to artificially inflate meal prices, by suppressing local production via corn price supports. That kept small Chinese hog producers on the hook at all times, and a lot of additional profit was accrued by controlling global physical inventories and busting hedges and short sales. Hog production is now being centralized. And the Chinese will no longer trust their food sourcing to an unreliable trade partner. I think it's over for a long, long time. Fund meal position is out-of-whack btw. | |
|
|
LongKC, where are you?
