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NW IN | You following SH or SX, JC?
I've been watching the up trend on SX with interest (lower trend line). Sold some new crop several weeks ago, looking to hedge more on a break below.
IMHO, the SA weather is trumped up. If Brazil grows 118 mmt and Argentina grows 55 mmt, that's about 6.35 billion bushels. Add in our 650-950 million bushel carryover and...well...that's a lot of beans available. Doesn't bode well for SX (or SN for that matter). | |
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Getting a little uneasy.
