From CBOT January soybeans made a new contract high today and a new all-time high for any January contract. Nearby futures moved to the highest level since August of 1973 with November soybeans taking out the 2004 highs.
Prof logic - I was wondering if you had any thoughts on soybean spreads. What with tight stocks and a big crush, you'd think that we could be in for a repeat of the great '73 jul-nov spread runup. But with corn and wheat both under stress as well, the new crop of beans might not be as large as it would be otherwise, so the new crop might go to the moon right along with the old...
this thread should be renamed - Soybeans to the moon. Wheat, Corn and Oats will not be making the trip anytime soon. but then again, what do i know???
Hey Jim, I don't mess with spreads, sorry. Simply futures and options straight up. I'm long beans across several months and will stay that way until I get a failure somewhere.
Wheat taken down. Beans, corn, and rice are next. C'mon this stuff grows out of the ground. They literally are making it all the time. Supply will catch up with demand. Unless this is Egypt in 1700 BC.
never traded rice - can anyone give a brief synopsis of what that market is like? bid/ask spreads? slippage? daily range?
I suspect shorting opportunities will be arriving at some point in beans. We have had a fairly steady climb up but I imagine it will be very volatile like wheat was when it started falling. If you are going to try and hold a position be prepared for limit up and limit down days.