US bean yield up a couple bpa?
USDA had US yield at a very modest 41.2 bpa.
Given excellent yields reported in the south and southern corn belt and better than expected yields in many points north of that I'm thinking it can come up at least 2 bpa by the final.
First off, that's my take and I can be wrong. Second, I can't be sure that it even matters that much for the balance sheet- China could easily just buy another 150 mb.
But anyway, I'll be looking to buy some cheap puts under unsold production before the reports and perhaps add lightly to early incremental 2014 sales.
Re: US bean yield up a couple bpa?
good marketing isn't assuming our personal view is 100% right.
Good marketing is getting some sold and assumes the mkt can go up or down from here.
Put protection on a % is good mkting, no matter the report outcome.
Putting light 14 coverage is good marketing.