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 Early Word Opening Grains [...]
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 [...]
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 [...]
Friday, 21st September 2007
After ten sessions, soybeans finally closed down. I was expecting it and indeed have been waiting for the past three days for it to happen. It seemed very likely that it would need to take a breath, having risen 4% this week alone. With nothing new today to help the bulls push forward and the [...]
Wednesday, 19th September 2007
Soybeans finished with another gain for a ninth session. I found that surprising, expecting a consolidation more on the negative side than on the positive side. All the more so with wheat finishing down 24.1 for the day, having earlier reached limit down. From the various and varied opinions of analysts, it appears that the [...]
Tuesday, 18th September 2007
Soybeans traded in the same range as yesterday. It looks to me like another day of consolidation. Opening at its highest at 974.0, it was unable to break through yesterday’s new contract high of 974.4. In the end, a quiet day.Wheat closed down 6.0. I will be interested to see how this market changes [...]