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Buxton ND | Bean meal IS NOT taking this as bullish....................
If it break $300 ZMZ we will hear the flushing sound.
$301 nearish the close well be quite important today.
The more DDG's that stay "in country" the cheaper DDG's will get, which will in turn weigh on bean meal = weigh on beanies.
DDG's have been dropping, PRIOR to this news, IDK but I'd say someone saw this coming*****
The reason (100% chart based) $301 ZMZ is important is because 301.2 is the lowest closing level in the last couple of months, breaking this level opens the gates to new short sellers.
"In general" CHINA IS SLOWING, they have dropped their interest rates I believe its 5 times in the last year, their slowing whether its iron ore/steel, concrete, copper, these markets HAVE BEEN China's building blocks. COPPER has flushed 50% since its 2011 highs. You wanna make traders nervous, CHINA slowing makes them NERVOUS***************
BTW China soybeans booking where VERY SLOW this past summer from us, there STILL slow*****
AGAIN NERVOUS TRADERS.
Double BTW remember Monday's export inspections where suppose to be bullish ? ? ? | |
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China/DDG's
