The bean market couldn’t keep it together today sloughing off 7 cents to the close. The Chinese bought a few US beans the other day but haven’t been back in the market since then. Bloomberg had an article out this morning stating that the Chinese would be buying 3 million metric tons of corn from the US come January. Funds were sellers of beans and didn’t do much of anything on the corn today. I continue to believe the market will be relaxed a bit until we see a solid deal made between the US and China, we might see a couple rallies here and there on days they decide to buy beans but I think that once a deal is in black and white we will see the real buying begin which will give the market some incentive to work in unison with their buying pace at that time, I think they have a lot of buying to do and when they do so I think that there is room to see the market really shoot up. We could always get a surprise and the two decide they don’t like each other’s proposal to a deal and walk away without a deal being made and from there who knows more tariffs?
