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Senior Contributor

Time to sell beans??

Is it time to sell beans or is this a breakout??
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7 Replies
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Veteran Contributor

Re: Time to sell beans??

Sold a few loads hoping to inspire it to go higher
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Veteran Advisor

Re: Time to sell beans??

Just HOLD. Each person is different based on their financial condition and I guess the only thing I can add is that the soybean charts are looking a little friendly, there are some weather situations in the news, there are some positives in the stock market and oil is not in the $20's.  

 

The market gods will probably read this and tank soybeans back down to 8.56

 

 

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Senior Contributor

Re: Time to sell beans??

I can hold for a bit , however the stochs are off the charts , got me worried.
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Veteran Advisor

Re: Time to sell beans??

I concur with Gio. They are chart-wise looking like a breakout from 7 month sideways / triangle, esp with today's action - with clean air to 1000, then last July highs - 1035.

     Moreover, COT indicated commercials aggr covering shorts Feb 16 to Mar 1

     + also seeing compromising mid-spring to late summer US weather forecasts.

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Veteran Advisor

Re: Time to sell beans??

cx1,

 

Hello my friend.  Hope you and the family are doing well.  Check your PM.  

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Honored Advisor

Re: Time to sell beans??

IH...not unless you think the acreage number goes huge to beans. I doubt it does, but I am just doing the economics. Farmers, and their bankers, do not always follow the economics of things.

 

The week to sell old beans is normally May 10th, why rush it this year.

 

I'd counsel you to review the 1987 markets for some possible insight.

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Senior Contributor

Re: Time to sell beans??

Finger on the trigger, but holding
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