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Reasonable chance tomorrow creates a near term bottom in soybeans
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IN555
Posted 10/11/2021 20:39 (#9264141)
Subject: Reasonable chance tomorrow creates a near term bottom in soybeans


NW Indiana
Lots of bearish news baked in. Funds going in with a small long position left. Everyone is aware of poor exports and better than expected yields on beans (I still think IN comes in below). I've seen and heard of lots of farmer selling based on the knowns. Even a fair amount of 22 beans getting priced. The boat is leaning, time for it to correct get back flat. Very well could trend down after but a dollar relieve rally heading into the critical SA period wouldn't be crazy. The report would have to be wildly bearish in order to stop me from being a buyer below $12.
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