Anybody knows what happened to bean complex today?

[startraitor]

The retreat will be short lived. There is no wiggle room in the ags going into next year. $4.55-$4.45 should be a bottom for corn.

Quote from ksthomsen:

"WASHINGTON, (Reuters) - The U.S. corn stockpile hit its largest level in four years as the autumn harvest opened in September, serving as a buffer against a smaller-than-expected crop that has driven prices to two-year highs.

The stockpile on Sept. 1 totaled 1.708 billion bushels, the government said Thursday, surpassing expectations by 21 percent or 296 million bushels.

Corn futures on the Chicago Board of Trade fell sharply after the report, closing below $5 a bushel for the first time in two weeks. Don Roose, analyst with U.S. Commodities in West Des Moines, Iowa, called the figure "a bearish shocker" and "a big cushion for a shortfall this year ... Now you can handle a lower yield."

This more than profit taking. I hope this adds some clarity....Kevin

 

[mizhael]

Quote from nazzdack:

1) The USDA calendar. The monthly and quarterly reports.
2) Jack-of-many-markets, master of none.

Accept your criticism.

As a newbie, I don't really know what I should be looking at.

I am running quant systems so it's a diverse set of products.

But I am also interested in fundamentals and want to do some data analysis (Quantamentals) whenever applicable.

Any recommendations about what I should be staring/looking at everyday so I can learn the fundamentals?

I feel I am idling here without making progress in learning...

 

[grg03002]

yes I meant intermarket, what I'm saying is that all the grains trade affect each other, and at the end of each quarter there is a USDA report that always comes out.