|
Buxton ND | First price above would be the down trend line about 13.28,major resistance @ 13.39 this level stopped it dead in its tracks 4 times. A stop just above 14.40 would be wise but IDK your risk appetite. Since your all ready in this I would stand your ground. Why
Fund record long for the calendar year is 176k Christmas Eve,they have been exiting til 1-7 to 142k,so "their trend" is leaving the market.
Funds have shown a trend to leave commodities in general IDK why beans are so different,yes CHINA
BUT they still seem to have a HO for beans over corn......
Bearish #'s out of Brazil and there harvest push in nearing. IDK but I'd be nervous long beans when you hear a 95 mmt crop.
WEATHER in Argentina IF it stayed hot and dry will most likely hit 13.50, IF it rains down there you'll be a happy camper as they test 12.50
This is about as much advise as I'll give,,,since your all ready in it !!!!!
IF your hedging bushels in the bin then I won't worry about it and play the basis
ZSH/X spread widens to $2.12 today they want your beans now to fill those ships going to China....... | |
|
short march soybeans
