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South Central Iowa | To add some things. We did have an uptrend, but have yet to break our summer high of $10.32. That's part of why I think we don't go down to the $9.17 or $9.04. This pivot is within the bound of that range. I have been valuing $9.04-$10.32 since August and I still do. That's the import range to me for near-term and what we should really judge breakouts on.
Maintenance Margin. Have you guys seen how low it is? $1,300 for a Soybean Contract and $550 for a corn contract according to CME. My RJO margin is smaller still. This is an unmentioned, but important thing. Firstly, it is emblematic of how low our volatility is. Secondly, it should have an impact on how we view open interest. Record positions are easier to obtain when you need half the cash in order to obtain the contracts. Food for thought. | |
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Soybean Charts
