Lots and Lots of Fresh Air above $36
Updated
VegOil Complex is Fundamentally as Bullish as the 2010/2011 Period.
-Fiscal Stimulus/Money Flow into Commodities
-Stocks of all Veg Oil are at 3-5y lows
-Consumption and Export Demand very strong
-The only thing that could ruin this party IMO is if the ratio of Covid Deaths/Cases start to creep up, that would be very worrisome.
-Fiscal Stimulus/Money Flow into Commodities
-Stocks of all Veg Oil are at 3-5y lows
-Consumption and Export Demand very strong
-The only thing that could ruin this party IMO is if the ratio of Covid Deaths/Cases start to creep up, that would be very worrisome.
Note
In order for Soybeans Oil to keep making new highs we also need PalmOil to do the same and today Oct Malaysian Palm Oil Stocks down 8.6% in Oct that's in line with expectation.Oct Supply down 3.6% was the big surprise, usually production is flat to up Aug,Sep,Oct as theses are the peak production months and then it drops in Nov.
Note
As mentioned in the tittle lots and lots of fresh air above 36,Thursday we managed to close just slightly over 36 and Today we just blew through it like nothing.
Run to 40 not out of the question.
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