The current advance that the grain/soy complex has put together is the largest it has experienced since late November/early December. The group has pushed through its 21-day moving average and has reached the 34-day moving average for the first time since the end of last year. While all of this…
Market Commentary
Daily Comments
Conab released updated production figures for Brazil overnight and took another pretty solid slice from their soybean estimate. They are now projecting a crop totaling 146.858 MMT, which is down from 149.403. This brings them much closer to Dr. Cordonnier’s estimate of 145 MMT than the USDA at 156 MMT….
Daily Comments
There was certainly nothing astounding in the USDA reports released last Friday. I will point out that the global ending stock for corn, wheat and beans were all reduced and came in at or below trade estimates. While none would be deemed “rally worthy,” it beats the alternative. If you…