July beans look toppy. Recent lower lows . Thinking about shorting new crop. Any traders agree?
I was actually thinking of a short term buy here but this market needs some fuel badly
Based on US domestic stocks/use ratio beans should be heading lower. H goes off the board in a few days. I expect the trade deal will go into OT, maybe out to June . When/If a deal gets done look to fade a spike up. Planters start rolling in April, after which beans are on the weather leash. ?Another trend yield year; yawn.
Anyone have a guess how many US beans are being diverted to the PRC via Canada?
SX started the yr. at 935.25 and the 200 day ma. is 934.50. Looks like support area here to me.
BUT I'm not a bean bull and won't be long at anytime soon.
IMHO range at the above support #' and res: at 951.
Will be projecting my yr. prices this week for cz and sx
bcb,
We look forward to seeing your range estimates.