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Follow the Vegoil


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The soy complex overall was uneventful. At times these mundane days actually can present quiet opportunities. The bean oil again climbed to 33% oil share. The recent high was approx 33.7%. It is my thought the market will test and ultimately take that level out. The global vegoil demand remains stout overall. The ARG price set back this week,while Brazil gained. The long term growth remains intact. The US is no exception with the BO stocks at 1.4 bil lbs. This in my opinion is a long term friendly number. The question I have, now with the crush margins in retreat, when will the crushers slow the crush pace. If and when this happens a very significant oil opportunity could unfold. The oil share and the bean oil spreads could witness a nice appreciation (no guarantees, quantify a risk). The meal fundamentals can play right into this with both the ASF in Asia, and Argentina exporting at or near record pace. Look for beans and oil to slowly gain on meal. Set parameters.

Be Well,

John J. Walsh
President, Walsh Trading, Inc.
312-208-8836
jwalsh@walshtrading.com
www.walshtrading.com



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About the author


John Walsh, President, Walsh Trading, Inc.

John began his career in the futures industry in 1986 at privately held firm, Barnes and Company. Barnes and Company was known for its presence at the Board of Trade, particularly in the agricultural sector. From Barnes, John held positions at the privately held firm, Argus and then at Continental Grain. During his time there, Continental Grain was one of the largest clearing firms in the world. Continental Grain had, and continues to maintain, extensive holdings in the cash cattle, poultry, swine, and agriculture industries. At Continental Grain, John had various responsibilities including working for the Options Group and the Risk Management Group where he serviced clients located all over the world.

 

In 1996, John left Continental Grain to found Walsh Trading, Inc., currently a registered Independent Introducing Broker (IIB) and an NFA member with the ability to clear at multiple, futures clearing merchants at the benefit of its clients. John’s focus at Walsh Trading has been on hiring and cultivating talented individuals and building relationships throughout the industry. Walsh Trading services some of the largest companies in the world, in their respective fields, as well as individual investors with a commitment to always putting the needs of its customers first.

 

John trades all markets, but concentrates his efforts in the agricultural sector, more specifically in the relationships revolving around the soybean crush. His trading methodology is based on fundamentals and a personally designed technical system.

 

Contact John
Phone: 312-208-8837 or 800-993-5449
Email: jwalsh@walshtrading.com

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