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| We've only been selling about 500,000 MT of bean exports per week for the past three months. That's only about 2/3 of what it should be. That suggests that a good number of end users have been buying hand-to-mouth, expecting prices to go down.
If they get idea that prices are going up, they very well might decide to put their buying in high gear in order to catch up. Given that they can't get orders processed that fast, they might just decide to buy futures tonight & tomorrow instead.
Farmer selling might just be swamped by end user buying. | |
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Sticking my neck out!
