Daily Comments (Public)

  • Dec 5, 2022
      Usda announced the sale of 130,000 mt of beans to China for the current marketing year. The market rolled over abt mid morning. Not sure who was leading it. Rumours going both ways in crude oil. Europe and the US now talking about rolling black outs this winter due to energy shortages. The trade is fairly convinced we have more than enough bushels to go around. The smart money tells me China is liking the lockdowns as they bring lower commoidtiy prices.  But China will lift the lockdown and have all of their buying done befire the lunar new year and then will be content to let prices rally. the lower dollar is helping. Managed money seems to be just gettign to the sidelines for the end of the calendar year. I like the beans and crude. Everything else is overdone but I am not ready to bottom pick and neither are other traders I talk to. The swing traders are selling rallies until it doesn't work. So far, they are on a roll. Let's see what tomorrow brings Marc This is not a solicitation. Any statements derived herein are derived from sources believed to be reliable but are not guaranteed as to accuracy or completeness. No responsibility is assumed with respect to any such statement, nor with respect to any expression of opinion contained herein. past performance is not indicative of future results. trading in commodity futures or options involves substantial risk of loss and is not suitable for everyone.