Wow, looking at the weekly plot of Mar 20 beans below, we've dropped just about 30 cents per week the past three weeks. If the trend continues, we'll be at 840 by week's end, $8.00 by the middle of the month.
It doesn't help that 1st qtr. Chinese GDP will be 4.5%. Insurance price discovery starts today, last year's price was $9.54. We'll be lucky if this year's price is $8.50, more like $8.00 if the trend continues.
We should have sold that extra billion bushels of beans last year when we had the chance.
I wonder if the Brazilians will clear & plant another 5% this year at these prices?
