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Sat
Posted 7/24/2014 10:00 (#3983562 - in reply to #3983520)
Subject: RE: Saying this easy like


Buxton ND
I was looking for a few things.

1. This it the futures market,EVEN though this export news was released THIS morning its news from the 10-17th "past news"

2. How many times have we heard buy the "rumor sell the fact" this is more then a rumor USDA reports daily exports sales,each day.

3. The rumor,in this case,its FACT,COMMERCIALS were buying the fact that someone had bought beans in the export market,they buys the board to cover sale made to whatever importing country. In this time frame beans traded from a low of 10.65 to a high of 11.19 the strength of bean WAS from the commercials. Toss in some weak buy stops,add in a dash of short covering and what ever HFT do with this stuff.

4. Rinse and repeat of yesterday's low. EXPECT more bean export sale in the AM,even some corn.

5. This is also a rinse and repeat from October then Uncle Sam was shut down for 3 weeks,MASSIVE export sales of beans,market trades sharply higher,closed lower.

This above is why I'm being a stubborn SOB on my bean hedgies.................................. Pitt above pointed out the "New News" of this morning 2 Lower highs, 2 lower lows this points to the next step of a new lower low............BTW corn just did this..........Sorry guys but this is what I read. :o(
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