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SD/ND/FL | I got long 10 July '13 bean futures contracts today at an average price of around $14.60. My mental stop is $14.00.
My thought is that the commercials are going to stop/squeeze the July futures as deliverable stocks will (should) be minimal at that time. Furthermore, I feel SA logistics are going to be a global bottleneck and hamper their ability to feed the world this coming summer.
I'm sold out of '12 beans (avg of $15, got started "too low") and have 25% of my '13 crop priced at $13.80 Nov '13 futures so you could say that this is a re-ownership strategy or old/new spread but I'm thinking of it as a pure spec play. We'll see!! | |
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Spec Trade - Long 10 ZSN3
