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Senior Contributor

Evening Trade 7/20

OK, market starting to make a little more sense now. The pullback today and this evening was healthy in my view. Too much profit on the table from $6 for things not to retreat. Now- the next 12+ hrs of trading are crucial IMO. If everything holds up thru overnight and first thing tomorrow I think we are in the clear for prices moving higher again.


1950 ET


Early evening selloff sent Sept contract down to 679, but now holding steady at 682. 


2055 ET


Some minor price fluctuations and decent volume. Sept price stands at 682.


** my take ** - right now leaning towards some buying going into the weekend and Mondays progress report. With recent weather it is hard to imagine the report will improve. Couple that with the hedges buying up until Tuesday probably.


2155 ET


Getting some real movement upwards now. Sept at 685 and change, Dec at 675. Will be interested to see prices in the morning.


0720 ET


Overnight there has been continued buying, bringing Sept prices up to the 689 level.


** my take ** - shaping up to be a bullish day. barring some early sell-off we are probably headed higher from here.



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2 Replies
Senior Advisor

Re: Evening Trade 7/20

so hot the computers are not working right  🙂


o wait


maybe corn doesn't like this.............soya are a sleeper, yield is going down as fast or fast percentage wise compared to corn..........

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Red Steele
Veteran Advisor

Re: Evening Trade 7/20

Beans do seem to be the sleeper to me, also. I am waiting for a rally to take soybeans to about $15 to finish up old crop, and start on new crop.


May never happen, but one can always wish.


Smiley Happy

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