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Buxton ND | "Problem is your neighbor can sell at $15"
Yeah he can,,, anything is possible but $15 beans do not match well with a 480 mb carry. OK that's to high 400 mb carry more so when SA is doing dam good at this time does not match.
Here was the major problem, we had lots of neighbors waiting for those $15 bean this past summer, same deal with that $5-6 corn. This ended very poorly come Labor Day.
In bean the main area's in Brazil are long planted, there still planting in southern Argentina. Do you really think China will pull the rug out from under the "planter" til the vast majority is planted in all the SA ? ? ?
Quick guess would be trading range between 10.20 and 10.60 til more known about the Brazilian crop and see what Uncle has for numbers come Friday.
Will say the same thing as I said 2 week ago, this is a big spec money play in beans. Rallied to that 10.65 then sold off next week, raise repeat back to 10.65ish would not surprise. What I saw today, its like traders said " Lets go play in the corn server (playground) and or we will hear about corn exports in the morning. IF no exports corn announced in the morning their just playing heavy in the corn cyber-land. ZCH trading range 3.40 to 3.60 maybe pushing 3.70 would be my guess til the report. | |
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Beans fail again at 10.60?
