November 29, 2013 Marketing minute Markets managed to avoid a turkey induced coma to end the holiday week. While volumes were thin, and hours were shortened, big export numbers excited soy traders enough to spark a solid rally. The Feds reported 1.4 million metric tons of soybeans sold in the past week. Corn exports were at the high end of expectations at 1.0 million metric tons. Now that the US harvest is complete, we wait. We wait as focus will begin to shift to South American progress. Weather has been near ideal allowing planting progress to rapidly catch up to average, and encourage global production estimators to increase throw out ever-growing record numbers. We wait to hear horror stories of ships dotting the ocean waiting to load South American product. Will this be the year exports leave South America in a timely fashion? Or will US exports continue to thrive longer than what most would expect given the size of the Southern crops? For the week, corn chopped 6 cents lower, while soybeans put most of the week’s 17 cent gain on today. Expect continued choppy trade to ebb and flow with the tide of export ships. Aaron Ulland Read the full Marketing Minute here: https://interstatemills/2013/11/marketing-minute-11-29-13/
Posted on: Fri, 29 Nov 2013 20:59:14 +0000
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