Where do beans find ANY strength? I can't think of one bullish scenario for US beans.
The cure for low prices is low prices. Bottoms take time. This may be a multi-year problem.
`1. Deal gets worked out with China
2. Drought in South America
We are a long way from either of those.
Dude... You just stated the requirements for beans to do exactly what they did today. And that is, bottom out, mang~!~. Full bore buy the beans and beanmeal with all the gusto that you can muster~!!!~!
On the 20th Nov they meet, the Prez of USA and the Chinese Dic(tator). Of course, it will be a win win opportunity for both to save face and put forth a resolution of the century. We be back in biz, BIG TIME~!~
You are aware that Donald Trump is our President? If you asked him if he felt like he needed to save face, he would look at you like you had 3 eyes.
Exactly. Curious though....how many bean contracts have you bought?
just to be fair Jim how many are you short?
Last night, bought one Jan Beanmeal at 310 even. And this morning, added to the loser at 305.8, thus a breakeven just shy of 308. Closed, settled right above it, but more importantly, the dynamics of the day. Oh, and excuse me, please.... Exactly how much cash do you have in your wallet right now? Not credit cards but folding paper, greenbacks? And don't give me that million yen baloney! Love ya, man! Yeah, I will be adding more on ANY strength, except at night. FAde the night, she's a fooler most of the time!
I prefer the beanmeal because it has a distinct seasonal rally from this point on. Plus, it resembles gold, in that it has leverage of $100 per dollar being 100 tons. It is as if I am trading edible gold. Easy to keep track of profits and losses for the numerically challenged as myself
Not sure how much money in my wallet has to do with anything.
I can't help but be struck by the irony that you have drawn a couple up trends in an overall down trend. Surefire way of losing money. Basically bottom picking.
Could we go up from here? Maybe....anything is possible. But the cards are stacked against beans. China is reporting new cases of ASF on an almost daily basis. That is a lot of dead pigs that aren't eating. The world is swimming in beans. Records being broken every where. Even if trade was still going on, being in the mid 8 dollar range is still questionable with the amount of beans we have. But bottoms have to start somewhere....right?