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Surprise Surprise, more volatility and head fakes… After opening and posting early highs or weak short covering left over from last Friday’s sharply lower settlement in Dec Wheat, which saw strength in the beans as an offsetting hedge, the puppet masters have struck once again.. Buy stop worm? Isn’t it interesting how the open saw a ten cent bump in the wheat and beans? just enough to go up and find any rational Short’s stop order? IN any event, Nov beans flirted around the 934 level for a while and then rewarded patient shorts with wide buy stops with a nice 15 cent wash out […]

OK,
Once again pretty good ranges, and all the grains are higher at this point, along with the soy meal and oil.
Apparently… The fact that the markets did not open sharply lower most likely left a lot of fresh shorts from Friday afternoon in a position where they would cover.
Nov beans have seen a range from 928 to 37, and are currently 7 cents higher..Dec wheat had a range of 451 to 462, and are currently three higher at 452 3/4…Corn also had a range between 340 and 334, and is currently 2 higher…. Sharply higher opens look to have triggered stops… […]

Good evening,
Its Sunday night and we can expect some volatility on the opening of the grain markets…Weekend weather was almost perfect, so once again, I would anticipate the weather premium will be squeezed out rather rapidly.
If the November beans fall below the 900-894 range, I would expect a flush out brought on by long liquidations down to the 862 to 56 levels. Keep an eye on our July lows on the charts.
Pay close attention to the wheat market as well, Friday’s sell of may have been overdone, and if the market opens higher for any reason, you could see a spike higher […]

4pm Chicago time.. Story of the day was long liquidation in the wheat, with Dec settling 23 cents lower on the day … and below the technically significant 450 level.. A lot of pros were actually looking for a settlement higher this week, but once again, the market spoke today, as we saw selling of wheat and corn with buying of beans against it.. Nov beans settled just above 926, close to the 925 strike price, up about 6 cents.. For a bit in the afternoon, it looked like beans would roll over under the pressure from the corn and wheat, but the 921 level […]

With about fifteen minutes to go, only the meal and beans remain slightly higher on the day, with corn lower and wheat sharply lower with Dec testing the 450 lows…Crude remains lower on the day as well… it remains to be seen if the funds will extend the selling into the close, but typically on a Friday, the close witnesses either a continuation of the overall move of the day… in this lower, after trying early to rally and then falling back due to the pressure in the wheat and corn…
There is always a possibility for a 5 to 8 cent rally to punish […]

Friday Morning Sept 25. 2009

Once again, the market squeezed out weather premium overnight, then put it back in today. Currently bean are up about 8 to ten cents, corn is up 1 to 3 cents and wheat, the weak sister today, is under some profit taking pressure, down about 5 cents…

It looks like we may have some evening up of the corn/wheat vs bean spreads today, with funds apparently selling wheat against longs in the beans.

In any event, Nov beans still are hemmed in at the top of the trade range around 931 with a low at 916.. the 925 area, *half […]

Thursday the 24th.
Grains opened lower with the crude, then we rallied 15 cents of the lows, gold down 18 bucks, silver down 60 cents, US dollar higher…. Crude ended the day on its heels. We have continued reports of a monster crop in the field for the corn.
For the beans… it seems like every night they take out the weather premium, then in the morning put it back in, rallying through the day… Long term fundamentally it looks like ultimately lower prices are coming in corn and beans, while the wheat looks like it has technical ability to close above the 484 […]