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Veteran Advisor

IS it time to "Buy" Grains or do we wait till Greece gets out or kicked out of the EURO?

Grains have taken a slide but looking to do some mid-term trading (buying or selling and holding for a two to three week period) now that we got an idea of South America grain and the outlook of Europe shouldI wait until the grains (Corn hit $ 4.75 and Soybeans hit 12.50.  What do you think?

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Veteran Contributor

Re: IS it time to "Buy" Grains or do we wait till Greece gets out or kicked out of the EUR

No clue.  I don't see how a small trader can use the news at all to their benefit.  It's all about price action.  If I knew those markets were going that low I'd be selling now rather than waiting to buy.  Remember the old saying: bottom pickers get their hands slapped.

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Honored Advisor

Re: IS it time to "Buy" Grains or do we wait till Greece gets out or kicked out of the EUR

Too late;

 corn up 17

beans up 15 was down 7

GOLD up 53 an oz.

 

If this is a dead cat bounce it was a big cat

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Veteran Advisor

Re: IS it time to "Buy" Grains or do we wait till Greece gets out or kicked out of the EURO

Glen,

 

I hear you but being patient is also a good thing and I am willing to wait until the market makes a move.  I would love for the market to tank so I can get in there with some good volume. 

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Senior Advisor

Re: IS it time to "Buy" Grains or do we wait till Greece gets out or kicked out of the EUR

Why is a producer buying grain?  Or are you a feeder?

Or are you a trader? 

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Veteran Advisor

Re: IS it time to "Buy" Grains or do we wait till Greece gets out or kicked out of the EUR

Hobbyfarmer, Don't count your chickens......all grains are down.  

 

Jim,  I trade for a profession and am not a producer.

 

 

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Honored Advisor

Re: IS it time to "Buy" Grains or do we wait till Greece gets out or kicked out of the EUR

Right after I posted that, I sold 2 trailer loads of beans for now delievery. $13.25 (+13 at that time) still not a bad price for down here in the "you don't count" part of Ioway.

 

Dead cat Bounce?

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Friend

Re: IS it time to "Buy" Grains or do we wait till Greece gets out or kicked out of the EUR

Not bad at all for that bean price. China has mentioned that they are looking to purchase 300 thousand metric tons of corn. Which could mean a jump in corn over the next week. The dollor went up as well.

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Veteran Advisor

Re: IS it time to "Buy" Grains or do we wait till Greece gets out or kicked out of the EUR

Hobby, You are happy selling two loads at $13 and change. You would have made $1.50 higher a little while ago. Sometimes you should count your chickens.
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