|
North Central Illinois | I think recent move up in beans is due to anticipation that things with China get resolved. If that proves not to be the case markets will tank further. Yes, if China resumes buying that will help the carryout situation but given the amount of beans sitting around out there it isn't possible for China to buy enough beans fast enough to get this carryout down to where it needs to be for a market that offers a big rally. I think the news from a couple of weeks ago regarding a possible China deal has enticed traders to buy a little and kept them from selling a lot. If and when a deal with China is confirmed and buying resumes to previous levels I wouldn't expect a rocket type move up. Just too many beans out there. | |
|
Trade talks
