Diary is a tough business. You might as well trade the London opening. Weren't farmers dumping milk in the streets a few years ago? Anyway, there is a really aggressive buyer in that Aug/Sep Soybean. He was dangling a 1 lot in front of me. Being impatient, I took it. He immediately went thru me and went thru the ask along with my sitting limit orders. It's a thin market. Looks like it could get steeper by tomorrow.
Should have clarified, I didn't mean for actual dairy production. You can buy the holstein bull calves for next to nothing (I paid about $50/calf) since they are of no use to the dairy producers. They still bring decent money at the sale barns. I think the 3 best ones I sold brought $4-500 each 6 months after purchasing. I didn't want to fool with them over the winter, buying hay etc. is why I sold them early.
Why the cotton market is in backwardation ? Prices are low and stocks are high ! Surfaces are sharply lower in the US
Interesting article on the soybeans, TraD. Not sure what to think on the beans right now. It all seems to hinge on Chinese demand.
http://www.agrimoney.com/news/cotton-most-bullish-row-crop-says-rabobank--8151.html http://www.agrimoney.com/news/cotton-price-resilience-may-prove-short-lived---icac--8157.html Diverging views.
Really strange market. Former price spikes in February and March inverted 2015 crop and this new one 2014 crop. As if the former were acreage driven and this one stocks driven...Whereas news are just saying the contrary...