Soybean Oil Headed Higher

[charliep]

Just for interest for market watchers, it is interesting to watch the CBT soyoil/soymeal spreading that is going on. Being long soyoil/short meal has netted some good returns. Today is showing the beginnning of some profit taking/unwinding of these spreads. Meal demand has also been good and this has started to push CBT soymeal prices higher.

[parsley]

Kernel,
Order lobster.
Parsley

[parsley]

Kernel,

Order it because that darn charliep is rarely wrong. You'll never get another chance.

Parsley

[charliep]

Kernel

I am not ready to pay up yet but if I do, it will be prime rib (Alta. product).

Parsley

There are 3 things that currently keep me humble in life (among others)

The grain/oilseed markets - self explanatory.

Curling - I moved up the ladder last night from the front end (you can miss a shot and still not harm your team too bad) to management (skip misses by a few inches and gives up multiple points).

A teen age god son - At 15, he is way smarter (at least in his eyes) than I am. Luckily, he is mostly right.

[charliep]

Charliep: My guy says that the South American soybean crop is headed for some what of a downer this year. This forcast could carry some weight meaning that it not necessarily weather related proplems. Its related to a pest problem of some sort. Have you heard of any such rumors or truths.

[charliep]

Haven't heard of any problems (weather or otherwise) in Brazil or Argentina. Just getting started seeding with one newsletter I get indicating about 10 to 15 % seeded (normal progress). Seeding starts in Oct. and carrys on into January (latter mostly doubled cropped soybeans with wheat).