Brazil sends us beans. This sends Old Crop beans to the wood shed- limit down

  • Posted on: July 24, 2013

Brazil sends us beans. This sends Old Crop beans to the wood shed- limit down. August beans traded as low at 13.92 1/2.    I covered my last short at 14.25.  We are currently trading 14.10   For now, I am sitting tight.  Let the smoke clear before you start trying to catch rallies or establish any new shorts.

I think  cash grain traders who know this grain was coming cleaned up. Absolutely. The delivery of the beans from South America to St. Lewis.  10 Cargoes.   Bye Bye old crop beans.

The Sale at 15.10 looks better and better.  Who Knew?  Sometimes s technical trade gets a kicker from a fundamental change.  That’s what happened this time.

I am still watching the shorts in Sept Dow.  WE need two consecutive settles above 15,500 for me to bail on the shorts.

Good Trading.
CER