World Perspectives
wheat farm-inputs

AM Outlook - Overbought?

GOOD MORNING, Prices are higher across the board this morning as beans and soyoil place new contract highs for the week, continuing strong up-trends.  Crude oil is firmer, which underpins the soyoil market, though Asian values are a bit lower this AM.  Higher world vegoil markets in turn support beans.  Slowing Argentine crush and tax/currency issues slow farmer selling for that country, lending support to beans.  And in the big picture, there are ideas that new money is coming into the Ag space as ending stocks tighten and weather worries persist.    Jan beans encounter another round of technical buying that takes prices towards the $12.00 target, while Dec soyoil is closing in on its upper target at 40c.&nb...

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