We can see last year on a chart that beans in May hit 16.67 for a crop year high. That was when USDA was projecting stocks at 120mb.

We believe that the marketplace believes that stock could be adown at that 120 level again, that’s why our prices this year have not only reached but exceeded last years price.

Also keep in mind that our high price posted here a few weeks ago at 17.65 is very close to the all-time high that was produced back in 2012 at 17.94.

The market is factoring in a lot of bullish news and now the market needs to see confirmation of this idea of extremely tight stocks showing up in USDA’s government report in the next few months.