stop out yesterday @ 964.75 on the may beans ya the trade was a bummer -14 cents will keep trying
I think 77 cents down since dec is enough. would think this report and some weather may spark a rally..the Rosario grain exchange has cut SA bean plantings 300,000 hectares due to drought
There is plenty of room for many more shorts. The market is way over valued. Today we
will likely see the carryout move over 500 MB. In all likelihood, it will grow to near 600 MB. While everyone was watching the shiny object (Arg) crops kept getting larger in BRazil. We will probably see a +115 MMT crop there.
Bottom line > 9.37, then 9.11 and down the road a test of that 8.44 area........
hope you are right Jim I will buy sharply low report with 14 day rsi @ 30, bullish sediment lowest it has been since August.Dollar is collapsing. Thing always look terrible @ the bottom and fantastic at the top. All bull market start @ the bottom.
A yield reduction in corn is out of the question......beans > very possible.
But the export projection is off by some 175 MB, and likely to grow. A yield
reduction will not cover this shortfall. Now I do not think the gooberment will
cut exports anywhere near that today. But they will start the process.
Great discussion in this thread. Thanks to all participants.