Some agressive buying yeterday in coffee. but im not yet joining the drinking party. looking at putting out shorts in the bean complex especially bean meal around 2800 if i get a fill. i will clean up OJ after 1 more day of weekness. enjoy :
the coffee, oj, and grains are all due for a seasonal run up. Any thoughts on whether the overall sell off has puked out the funds? Tomorrow's crop report should be interesting.
I agree with caroy...while I'm not long soymeal (I am long beans but just as a quick trade into the report tomorrow), soymeal is due for a run up into winter...feed usage and purchasing will start to ramp up in the coming weeks. Not sure on the fund liquidations...probably still a few little odd lots left to get rid of here and there. To keep it on topic, I am actually long Dec. coffee.
Im short soymeal @ market open - seasonal run up - mmmm - lets see- most grains are week - look at soybean gap down today - i dont see any major run ups no matter what report today says until a floor is set in stocks.
Rtrader - You may have picked the bottom in Coffee- I'm now watching it closely lookin for a major run if prices stabilises around the level on the monthly chart which historically has had major buying interests - lets see what happens next week