Sold out of July Beans today at 601 even. I didn't like the look of the chart. It appeared to have a double top RSI with a downside reversal today. I picked up about 12 cents ($600) on the long July Beans trade. By the by, seasonality is turning negative on Beans as well. There should be two more bounces --one in June and then another in August/Sept when frost concerns in Minnesota etc will/should cause a bounce.
Have you shorted the July Oats yet or still waiting for May 10 report? I noticed that they had a bit of a selloff, but I don't usually like to trade when the Histogram is this tall. I suspect a small bounce coming prior to being a good short. What do you think?
July Beans suprised me a bit today as the chart didn't suggest the upside. In any event, I did have a profit and will watch this market to see if this has legs. Most likely, I will look for an area of reversal. I don't generally chase markets up.
No I was not able to get in short, I was being greedy and waiting for it to hit 2.00. I will now short oats if it hits 195.00 as long as fundamentals stay bearish, which it appears they are.
Before I went on vacation thursday I went long 2 corns and short one oats contract it turned out very well. I sold off one corn and covered my oats at a small loss. I'm going to hold my corn for the next month or so.
I am out of the Long July/Short November Bean spread today at 20.5 to the November side. This constitutes a roughly $500 loss. This happens sometimes. Hey --it didn't work this year--what can you say.
I am happy that I covered the July 400 Wheat Calls when I did. The price has zoomed right to 400 in the past few days.
Be careful with the gap up on Friday. Those can be deceiving. If it goes on a few days without significant upside, I would consider getting out.
Looks like a bearish Histogram divergence in the July Oats today JW. I think I may sell a few on the close. Beans had the divergence yesterday. Looks like it may be a good place to short the July. What say you?
I shorted July Oats today at 196.5 and July Beans at 601.75. These should also have some negative seasonality to them.