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Sunday Market Outlook 10.18.20
Prices have been firm into mid-Oct. During the past 12 years, you can only find 2 examples where "not selling" in mid-Oct proved to be the correct approach. In many years, this time frame proved to be the highest values seen through mid-December.
Traders who are the most bullish now, were the most bearish all summer. The upside leader in the soy-complex rally trend from May forward was soyoil. Soyoil topped 9-18-20 and has not been back to those levels. Soybeans topped 9-18-20, declined sharply, then returned to new highs, but can those highs be expected to hold if those that were long the leader of the complex, have exited?
Producers need to seriously look at current prices through the lens of total revenue available for 2020, including gov't payments. And especially view today's opportunities from the perspective of what was feared/expected during the April to early Aug window.
Producers also need to seriously evaluate opportunities currently being presented for 2021.
We cover a lot of items this week. Have a listen!
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By Crop Production Science, LLC
3.6
55 ratings
Prices have been firm into mid-Oct. During the past 12 years, you can only find 2 examples where "not selling" in mid-Oct proved to be the correct approach. In many years, this time frame proved to be the highest values seen through mid-December.
Traders who are the most bullish now, were the most bearish all summer. The upside leader in the soy-complex rally trend from May forward was soyoil. Soyoil topped 9-18-20 and has not been back to those levels. Soybeans topped 9-18-20, declined sharply, then returned to new highs, but can those highs be expected to hold if those that were long the leader of the complex, have exited?
Producers need to seriously look at current prices through the lens of total revenue available for 2020, including gov't payments. And especially view today's opportunities from the perspective of what was feared/expected during the April to early Aug window.
Producers also need to seriously evaluate opportunities currently being presented for 2021.
We cover a lot of items this week. Have a listen!