Why Bearish New Crop Beans?

  • Posted on: July 31, 2013

November bean chart:  When we couldn’t take out 13.00 and make a run above 13.40….. That was a big sign of weakness.  When we settled below $12.75  that was the second major sign of weakness. Finally, the trend is lower. If we take out the april low at 11.86….. that opens up another $1.00 to the down side.

 

For these reasons, I am more comfortable being a seller of rallies, rather than a buyer of breaks.