Broad anecdotal info is running just a spositive on bean yields as it is negative on corn yields. There are exceptions both ways in both cases but It think that is clear.
Anyhow, bean futures just keep getting stronger. The guys who have to come up with a fundamental justification at the end of the day can do so because they have to.
But I'd submit that all commodities, and equites, and junk debt etc. are being buoyed by the "risk on" trade that absolutely caught fire when da boyz thought they'd gotten a wink and a nod from Bernanke a few weeks ago.
Nothing predicitve here other than to caution not to get caught up too much in "the yield is this, carryout is that" talk cause I think it is all moe about spec flows and at this point, momentum created by it.
My prediction- the risk trade will turn very risk adverse sometime.
