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Red River Valley | talked about the set-up the other day once beans took off today to the up side ( for me it was above 15.18 it was piggy back time ) then short it at 15.44 1/2 and ride it back down to unchanged and out .
we will see this setup again next week at some point I believe, not sure what to use this time as the up side in but the 15.44 -15.49 area will be a nice short area. the 15.18 area may well be the spot again the key will be a fast market type condition.
to me National Basis sliding hard was the tell
the processors are jumping their bids like crazy from N to U to X trying not to get hung out to dry on this market as soon as they get forward coverage on they move out on the calendar.
again if gambling with beans in the bin be careful and know where your local is sending the beans and if your selling direct to a processor than have a good feel of what they are booked at is vital.
Knowing when to hold - or when to fold will mean maybe a $1 or $2 in price imho | |
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What a great day to trade Beans
