Soybean getting slammed

Discussion in 'Ag Futures' started by spersky, Mar 31, 2008.

  1. spersky

    spersky

    the crop report is very bearish for soybeans. They have been limit down for most of the morning. I am think we will see some more weakness in soybeans over the near term.
     
  2. How is it that we can be down 82 cents tonight when the new limit is only 70 cents?
     
  3. pkts

    pkts

  4. spersky

    spersky

    I am not sure, but I covered my short just now because. I have no idea what this thing will do anymore. It has gone beyond my analysis. Anyway, $8,400 profit on one contract in one day is enough for me.
     
  5. Thanks for the link pkts. That explains it.
    Congrats to spersky.
     
  6. from bloomie:

    Hedge Funds

    In the week ended March 25, hedge-fund managers and other large speculators held 114,759 net-long contracts, down 0.9 percent from the previous week, according to the U.S. Commodity Futures Trading Commission. Net-long positions, or bets prices will climb, reached a record 155,278 contracts on Dec. 11.

    Funds that invest in baskets of commodities held 175,137 net-long contracts, down 0.8 percent. Index funds were net long a record 198,707 in the week ended Feb. 19.

    ``Anybody that bought soybeans since the start of the year will be going home with a loss today,'' Henderson said. ``There could be more liquidation'' of investment and speculative bets on higher prices before the market's decline slows, Henderson said.

    http://tinyurl.com/2nbr6q
     
  7. anyone thinking of shorting ZS at these levels? soybeans arenow green for today! i'm thinking of shorting. but have never traded beans before :eek: :eek:
     
  8. spersky

    spersky

    Hello,

    I am looking to reshort again. I will tell you when I do.
     
  9. huge swings pal...
    best use the minis or something...or trade corn because it's a bit less volatile...