bolditalic

Soybean Report, 03/28/2017

Tuesday, March 28, 2017


After Friday’s drop we started the week out quiet for the soy as traders look to position themselves ahead of Friday’s report. Concerns out of China with bird flu pressured Chinese futures down 47 cents and effecting feed demand. Export inspections yesterday are in line with last year at 555tmt, the trade is trying to wraggle around Brazil and Argentina production numbers as US acre talk is anywhere from 87-90 ml acres. Beans have seen a sell off of 80 cents since March no weather stories out of SA offered any support and the strong rhetoric from the country of US producers switching historically non bean acres into bean acres. The charts look like the market is looking to put in a slight floor here at $9.70, but the heavy hand of the bears could keep the downward pressure. Producer cash movement as expected is no there as preparations for field work are in full swing, with a good portion of the crop priced earlier in the year it will need to take a very good rally or cash need to shake the remaining beans loose. Looking for another mixed day, with a potential dead cat bounce to give us some hope.


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

;
;