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200 dma in beans

acting as support.


Wild guess that should the rains come through as advertised we're going to go ahead and clean up the bean spec position on Monday.

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Re: 200 dma in beans

Funds added 12K longs as of Tuesday, sold around 6K meal, bought 24K oil- probably just an unwind of long meal/short oil.


The top analyst who I referenced is also questioning USDA's bean yield number but I'm not convinced of the agronomic case, unlike corn where I think the question is more open.


Wheat still very short although lightened a little, corn added 35K shorts.


I gotta think that the more likely outcome here is to liquidate the bean longs first before we can look for a broad basing in all grains.



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