Soybean Report, 11/04/2016

Friday, November 4, 2016

Not a lot of momentum at the moment either way as we approach the weekend. Weather looks status quo, so we should have little reason to move any direction than sideways it seems. Spreads are a bit stronger on the beans, but not especially for any good reason unless you think our export pace will continue all year. The only weakness in the spreads is in back months, so there is your answer, IMO. Basis is still weak, but movement is slowing and I would expect a nice bounce into year end. Export pace has been torrid, both in bookings and shipments. Crushers have been cranking right along as well. This should set up a decent 10-20 cent bounce in basis by mid-Dec. and could be more if futures head south. Look for a chance to sell higher, but with the tail end of the harvest this weekend on tap and still some cash only storage facilities that would portend a weaker close unless weather in SA takes a drastic turn in their forecast around noon.

Unless otherwise noted, the posts on this blog should be construed as market commentary, merely observing economic, political and/or market conditions, and not intended to refer to any particular trading strategy, promotional element or quality of service provided by INTL FCStone Inc. or its subsidiaries. INTL FCStone Inc. is not responsible for any trading decisions taken by persons viewing this material. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. These materials represent the opinions and viewpoints of the author, and do not necessarily reflect the viewpoints and trading strategies employed by INTL FCStone Inc. or its subsidiaries. Reproduction without authorization is prohibited. All rights reserved.

Market Intelligence Free Trial

Meet the Team

Kansas City, MO
1251 NW Briarcliff Parkway
Suite 800
Kansas City, MO 64116
Tel:+1 (816) 410-5079



Our privacy policy has changed. View our privacy policy to learn more.