Discussion in 'Commodity Futures' started by jaming5002, May 8, 2003.
So, who's been following/trading this lately. Beans have been rippin it up.
I bought the beans at $5.70 and looking to add on with any correction. The corn has an island bottom. This is the year.
Beans in the teens???? If you are not long you are wrong.
I haven't, but I want to start trading these non-financial markets. Let's keep this thread going and keep some interest up.
"Beans in the teens???"
not likely. i live in corn and bean country. unless things change we are shaping up for very nice growing conditions. we had early spring and are getting timely rains. of course it could stop raining tomorrow and change it all.
cattle are a different story tho. we had a bad drought last year and many cattle were liquidated. that always means a shortage the following year.
Here's a WAG: There is a lot of concern right now that farm production in China could get hurt in a major way as SARS sweeps through the countryside. Recall this is all manual labor. Not much labor is going to get done if nobody can breathe or everyone is too scared to bring product to market.
I would think some would be willing to speculate that soybean exports to China could skyrocket as this fall's flue season rolls around.
Then again, what do I know about soybeans ...
NOT!!! (unless big bad draught will come...due to global warming...)
This is a good time of the year to be a buyer of beans.
From my calculations july soybeans should see some selling at 640-644 range. Hard to say whether it will reverse or just consolidate at that point. My strategy will be to sell ITM calls and buy OTM calls when prices are in the 640-644 range. Bullish on corn.
we got more nice rain in the corn\bean belt last night. shaping up as a high yield year. dont know if that will influence the market or if something else is going on in commodities market. ie weak us$
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