Posted 11/20/2012 20:10 (#2708107 - in reply to #2707393) Subject: Re: China and beans
onida, south dakota
looks like you might have to be patient if you are going to get long from the 13.40-13.70 area
i do see support around the 13.70-14.00 area.....via trend from the Dec low to June 1st low....up to low a few days ago.....also marks the 61.8 retracement from Dec lows to Sept highs
also old resistance in last spring's highs turned new support
also seen this in CHS Heding afternoon comments from Tregg
." Did hear there was a large seller of $14.00 January puts today to the tune of 5,000 contracts. With a delta of 0.424953, this works out to around 10.6mbu. In recent history, China has been known to be a rather large put seller in an attempt at pricing."