Re: Bloomberg: Rabobank Comments
In my opinion, the production estimates are not critical to prices. Carryover stocks are sufficient if not plentiful both in Brazil and globally. What the market is doing today is, possibly, index funds related. Today 2,500 EFS were posted which could be either speculative or commercial but I’m guessing index. Whatever it is, it seems to be providing strength to the market. We also have managed money buying and end of year activity. The market is now 127.00 +
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