Be patient, don't panic on today's sell off!!!
Apr 22, 2013
You have to believe talk of a drier and warmer extended forecast, along with the major drinks many US fields have taken as of late, new-crop prices will start out under pressure. My thoughts are eventually more planting delays and major flood headlines will become a reality and the market will be forced to add in a little weather premium to the nearby equation. I suspect old-crop soy, especially meal should remain limited to the downside as demand for nearby supply remains tight. Wheat should also remain fairly stable, at least until more is known about the upcoming cold-temps. I certainly think there could be another push higher with limited supply available. Check out all my thoughts going forward by CLICKING HERE.