bolditalic

Soybean Report, 02/01/2017

Wednesday, February 1, 2017


Lower values as we continue to see excellent weather for the SA crop. The US$ has fallen below the 100 level on the index, but is pushing back up toward that level this a.m. While Trump continues to push for a weaker US$ the Fed could easily blow that plan to pieces with a rate hike. Though one is not expected today, sooner rather than later does seem to be the consensus. Today is day one of the early or planting pricing for insurance. Tues. will be the first day of the Goldman roll so we should see the Rogers rolls starting today. WE are also only a week and a day away from the next USDA S/D reports. The S/C ratio has slipped below 2.6 this a.m. to 2.59. Basis has firmed a bit as lack of movement from producers will be the norm into the foreseeable future as we have purchased north of 70% in all areas I cover. The last 25% is going to be tough to get moving without a major rally. Only beans lost OI yesterday in light volume. Spreads continue to weaken and add carry. Even N/X has removed enough of the inverse that one can once again dream of carry into NC, but it is still far from in sight. Look for both sides to trade with the lower side the having more attraction at the moment.


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

;
;