I don't usually focus on outrights but soymeal has come up on my radar.
Soymeal values worldwide are being
boosted by poor availability in Argentina, the top exporter, where
farmers are hanging on to soybeans, as a hedge against buoyant inflation
and a falling peso.
My personal indicators are showing solid strength and as a bonus we also have a seasonal window.
I don't put as much weight in the outrights in terms of their seasonality but it's nice to have.
I'm very interested to see how this one trades on Tuesday. For now it's one to watch.
Tuesday, October 8, 2013
Wednesday, October 2, 2013
Potential Cyclone Hurting NG Spreads
The National Hurricane Center is showing a weather system in the
northwestern Caribbean Sea that stands a 50% chance of developing into a
tropical cyclone in the next five days as it heads into the southern
Gulf of Mexico near the Yucatan Peninsula and eastern Cuba.
NG spreads got hit badly in Tuesday (and Monday for that matter) trading and I think we have to cover out shorts here.
The Nov13/Jan14 bear spread was essentially a play on the late heat wave heading into the shoulder season and this has fundamentally changed things.
NG spreads got hit badly in Tuesday (and Monday for that matter) trading and I think we have to cover out shorts here.
The Nov13/Jan14 bear spread was essentially a play on the late heat wave heading into the shoulder season and this has fundamentally changed things.
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