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infire
Veteran Contributor

Why the sell off

In soybeans? Anybody want to talk about that or is marketing not allowed anymore. Other than lack of a big crisis in the last few days, not sure why they are dropping. 

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3 Replies
BA Deere
Honored Advisor

Re: Why the sell off

Hey Infire, a guy on with Chip said the funds were bailing for technical reasons, not so much fundamentals.  Soy oil that had been a bean price driver is down because West Texas crude is off nearly $4.   Fears of recession and less need for frying oil.   Dad used to say at KFC, "their chicken ain`t bad today, they must`ve changed the oil"  🙂  perhaps restaurants will try to get an extra week out of their frying oil  🙂

But the guy said he thinks this 3rd day might be enough and cooler heads prevail.

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infire
Veteran Contributor

Re: Why the sell off

Thanks BA, that seems plausible, I really can't complain still at this point, it's just that a buddy of mine sold some a little over $18 and I was really hoping I could beat that with my remaining inventory, bragging rights you know.

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Hobbyfarmer
Honored Advisor

Re: Why the sell off

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