May 25, 2015

Soybean Commentary

05/22/2015

Macro market pressure had the bean market on the defensive all session long today. Fresh bean news to trade was lacking so the trades attention shifted to the macro picture and the US Dollar. Volume was lacking as many traders took today off to give themselves a 4 day weekend.

A big rally in the US dollar had funds dumping pretty much all commodity groups today and that is what pressured the soy complex. The bird flu epidemic continues to expand as it’s estimated that just shy of 39 million birds have or will be culled. This will no doubt have a negative impact on the demand for soymeal as some end-users are reported to be selling grain stocks.

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    Allendale Advisory Contributor:

    Jim McCormick

    Jim McCormick

    Jim started with Allendale in 1997 after earning an Agricultural Economics degree from Purdue University. He has been a featured speaker at several of Allendale’s Outlook Conferences.
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