Wednesday, 3rd October 2007
Today was a needed break. Not from the markets as a whole, but really from having an open position. For the first time since I started this whole adventure back in June, this was the first time that I didn’t have an open position and also most importantly in soybeans! I needed that. It was [...]
Tuesday, 2nd October 2007
I was expecting Soybeans to close lower today, but nowhere near limit down. The market touched limit down during the session and just before that I was stopped out. The overbought nature of the market and the pressure of harvesting were finally able to push the price down with the strengthening of the dollar as [...]
Tuesday, 2nd October 2007
Wash. Wheat Farmers Rolling in the Dough: Financial News – Yahoo! Finance When wheat prices hit $6.67 a bushel, farmer Michael Sargent sold his supply because he’d never seen prices that high. He wishes he had followed his wife’s example. (tags: toti_links Associated-Press trading commodities wheat bull-market) DTN Early Word Opening Grains – Farms.com DTN [...]
Monday, 1st October 2007
I think you could best describe today as a day of waiting for soybeans. It was a tight session of trading, with the high of $9.98 and a low of $9.90 and only closing up a 1/4 of a cent. There wasn’t much change from the information available last Friday. Over the weekend, the USDA [...]
Sunday, 30th September 2007
Today is the end of September, and last Friday saw a lot of funds moving money around at the end of the month. I’ll assume that there will be some carry over of that change around tomorrow. For me though, things haven’t changed all that much from last week. Soybeans finished the week +12 cents [...]
Friday, 28th September 2007
So much, for no surprises in the USDA’s grain stock report. Soybeans came in at a record 573 million bushels, well above estimates. Having read the report when it came out, I expected today to close well down. It did, all but reversing yesterday’s gains. Those extra 20 million bushels in the current stocks provide [...]
Thursday, 27th September 2007
Soybeans sailed right on through the $10 mark. The underlying fundamentals have been stacking up for a while now with increasing demand and falling supplies and since August have manifested themselves in a huge push upwards of the price. No doubt, the falling dollar and the continued march upwards of wheat have also been a [...]
Wednesday, 26th September 2007
Well, I guess I was a little right. Planting is providing the support, it’s just a lot more than I had anticipated at the moment. The factor’s haven’t changed, Brazil and wheat are still the major reasons behind the support. Dow Jones‘ outlook for the day had it summed up in their opening line: Soybean [...]
Tuesday, 25th September 2007
I did catch some of the market action today and it seemed to me that wheat was pulling up corn and soybeans for most of the day. In the end though, with wheat giving up some of its earlier gains towards the end of the session, the short-term factors weighed heavily on soybeans with the [...]
Monday, 24th September 2007
I wasn’t keeping an eye on the market at all today. I just about caught the pre-opening reports but other than that I didn’t see much. All in all, I don’t appear to have missed anything. The news this morning was about Paraguay and the expected good harvest there. Soybeans opened a little higher and [...]