Ag trade ideas

Long Jun/ Short Aug Euronext Corn @ -5.75.

 

I read this morning Hightower saying Soymeal is the most oversupplied commodity around. Does someone know what the ending stocks/ usage ratio should be this year?

 

there is no s2u for soybean meal, coz it's nonstorable commodity. "Soymeal can turn rancid, consumers cannot maintain large inventories"

 

Scratched the rest @ -0.64. I know there is a seasonal window coming but I wasn't feeling it.

 

However, they crush soybean in argentina and they bring 30 mt of soymeal in China. I think you can have several weeks if not month between the crushing in Argentin and the time they eat soymeal in China. So i think it can be stored for a couple of months ?

 

soymeal endingstocks

 

yep. according to russian national standard it can be stored for a 3 months

I think ending stocks data isnt relevant for meal coz if u look at wasde table you will see the same numbers every year (250, 260, 300,300) and s2u is a kinda funny number like 0.5%

 

3 months, ok !
On a world level, their ending stocks data are more relevent (graphics)

 

Long May KC Wheat/ Short May UK Feed wheat @ -12.25 cents per bushel. 2 KE vs 3T Basic spread. GBPUSD hedged.

 

Out @ same price. I am like an HFT these days ...LOL...I scratch almost everything.