Edamame

I certainly agree that beans are due a bounce after last week's sell off. We don't really have the bullish fundamentals so how much rally can we expect? 13.60-13.75? I'm not trading soybeans now, waiting on a better risk/reward set up. Thanks for the grain chart and comment.

I know you're not talking literal nibbles, but on that note I used to snack on 'em till I read somewhere about soy having detrimental effects on testosterone levels...

DBA and RJA make good buys on weakness to day, I am not good enough to time this stuff but I know a relative sale when I see one.

Money flow moving out of grains I'm told.  Also a rumor that a large macro hedge fund is going short the grains.

Ferretflat, rain usually makes grains but yesterdays rains and storms couldn't have been good for crops in the Corn Belt.  But cooler weather good for corn pollination?

Yesterday's Minot newspaper said the water would be high till December.  Missouri river is expected to flood through August d/t reservoir release which hasn't yet been maximized.  Bridges and railroads across Missouri already closing and will remain closed for months(US 136,159, RT 2).  I dont know if permanent levees can hold high water for 3 months.  I have no faith that the temporary levees will hold that long.

I fear that most lowlands between Montana and New Orleans will be taken by the Missouri flood this year.  Also most bridges and access roads closed or destroyed, barge traffic banned for rest of this year.  Most midwestern grain goes down the river.   This could easily be the worst natural disaster in American history.

I sold corn for $1.60 in 2005 after Katrina closed the export terminals in N.O.  There is the possibility that the river will be closed again this fall d/t flooding.

I bought corn yesterday and sold it into this morning strength for a modest profit.  Is there a crop report due this week? I'm wondering if this strength will carry thru to the report (front running).  This corn market is starting to resemble the silver market.

edamame is really great when its steamed and salt is added. You then drink a nice cold beer and enjoy the fireworks. mmm mm good

Turd,

I just don't see a bullish story in beans. While June is ending on a hot note, forecast I read has normal temps and moisture into mid-July. But August weather will be key to the bean market, and it could certainly be hot. (Fun to trade weather huh?) You know the chartwork better than I, but I see beans bouncing off 12.95 twice now, with Nov trading up 12c tonight at 13.06. But I see what you do, if beans break and trade through 12.95, looks like 12.75 to 12.66 would be a buy. (Below that its a long way to support).

Have a good weekend.

Nov beans have been in a $13-$14 trading range for awhile, today trading into 14.10 resistance again. A strong close over 14.10 should trigger some short covering opening up the topside to $16-17, otherwise we retrace to 13.50? Too much weather and unpredictability here. I'm watching this market closely. Trading ideas anyone?