Beans have broken below the upward trend line. yesterday when it closed at 10.54
Are the funds starting to cover?
Sorry for not commenting sooner.
I have no idea what is going to happen to beans right now. Too many cross currents and uncertainties but if demand continues like it has been, I don't see how we can go that much lower.
By metmike - Oct. 30, 2020, 2:38 p.m.
Demand driven grains are fighting some opposing forces. Massive fund longs already, good rains for the driest areas of Brazil, prices already have jumped much higher, demand news is old news, COVID and election uncertainty.