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Goldman Sachs is calling for a long lasting commodity bull market that will benefit energy, metals, and agriculture. We are bullish on corn, the soybean complex, and winter wheat. The US will be issuing more debt for stimulus in the aftermath of the coronavirus shutdowns the the rest of the world’s central banks and governments will most likely follow suit. Ag and the rest of the commodity markets look bright for 2021.
Soybean Oil closed above the 2016 highs as all global vegetable markets surge higher
Soybean Oil closed above the 2016 highs as all global vegetable markets surge higher
The USDA’s November 2020 WASDE was bullish for corn and soybeans. Corn will be supported at $4 and soybeans at $10
2021 Wheat, Corn, and Soybean Acres will be the largest we’ve seen in years
Wheat stocks will get tighter next year and we see KC gaining on Chicago. For the 2021-2022 marketing year KC should trade over Chi
Corn is adequate on the balance sheet but cash, basis, futures and spreads all say stocks are tight. We think corn has more upside this year.
New crop soybeans are tight and without an expansion of 7mm acres soybeans could be tight next year too!
Soybeans lead the CBOT higher on renewed Chinese demand and South American planting delays.
The Sept 1 quarterly stocks report was bullish for corn, soybeans and wheat