so bean gap tonite. maybe a target at 10.11...then the older more established 10.26........
ehhhh....depends why they are being bought. Commodities are up across the board this morning after a miserable week last week. Today will be a good day to sit it out.
couple reasons floating around...SA of course and funds getting interested in commads
They weren't interested last week. (G)
https://twitter.com/GRAINSOILSEEDS/status/963017738276032512 example of just a small touch of what's going on in SA...in many areas they have sprayed to end the growth because of late planting and now to much rain. Then they did not get to harvet and the beans now have too much discount to market so in the few areas dry enough they have started to try double crop corn
on the managed money they have lightened their short position to around 70,000 in corn I thought I read somewhere and that would be the skimpiest since last mid-August
I believe that corn is a buy. Sales have been really strong. Not so with beans. China has been shunning US beans.
Just the charts but were just trying to test 4 week highs. March beans need to close above 1002 to get another move up.
"Soybean fields in Argentina received less rainfall than expected over the weekend, with forecasts calling for a return to hot and dry conditions over the next week. The weather concerns there provided the catalyst for fund buying in soybeans, which spilled into the canola market, according to a broker. However, soybeans ran into resistance to the upside and backed off their highs amid reports that China had cancelled 450,000 tonnes of U.S. business."
touch and go there for a bit but very good closes for the grain
just in case nobody has noticed beans up 9
There is no shortage of beans. And none for the foreseeable future. I stand by my over all thoughts that traders are setting up farmers for huge heartache. Prices are promoting over production and in a heartbeat, prices are going to crash and lives are going to be ruined.
"lives will be ruined" wow Jim. This sounds a lot like mojo crying everyday about Trump policies that so far have only enhanced life for every segment of society. Beans price volatility is tough at times but without them where would the opportunity lie?
True enough mcfarm. I see they are extending the hot and dry in Argentina. I went long today.
I truly am hoping you picked a good time to go long. One more guy on the good side of things will not hurt