Beans in the teens

Looked like a top but it came marching right back over the last two days. I am looking at the Jan contract as thats were all the volume is.

 

that ain't a blow off top, that's a typical bullish trait u often can find at the openin' range of strong stocks...3rd candle will take out the highs....watch it.

 

Could this be causing the run-up?

http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/103006dnnattransfat.87f626b3.html

 

It is a world wide demand driven run on the price. The demand is real.

The rest of the gain complex does have a degree of correlation.

Beans has been the laggard in the complex.

 

I examine monthly charts of corn, wheat, oats, rice and soybeans. I observe corn, wheat, oats, and rice trading at or near 10 year record high prices. Soybean price is about 30 % above the low price of the ten year trading range.

 

I think we are due for a correction in beans down to 640 area or some were near that in the Jan 07 contract.

 

headline read soybean prices to rise because of expansion in production of corn.

why?

 

The more acerage utilized for corn planting, less for beans, therefore less bean production.

 

I also just heard on Bloomberg Radio, Soybeans will climb in 2007, all this tells me get the heck out!

 

And less Cotton acreage. But please just trade the charts.