Beans in the teens

[myminitrading]

Quote from e-miNY:

Blow off top above 650. Goodbye to the run for today

Looked like a top but it came marching right back over the last two days. I am looking at the Jan contract as thats were all the volume is.

 

[Bitstream]

that ain't a blow off top, that's a typical bullish trait u often can find at the openin' range of strong stocks...3rd candle will take out the highs....watch it.

 

[JDConner]

Could this be causing the run-up?

http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/103006dnnattransfat.87f626b3.html

 

[ellokn]

It is a world wide demand driven run on the price. The demand is real.

The rest of the gain complex does have a degree of correlation.

Beans has been the laggard in the complex.

 

[Hook N. Sinker]

I examine monthly charts of corn, wheat, oats, rice and soybeans. I observe corn, wheat, oats, and rice trading at or near 10 year record high prices. Soybean price is about 30 % above the low price of the ten year trading range.

 

[myminitrading]

I think we are due for a correction in beans down to 640 area or some were near that in the Jan 07 contract.

 

[zdreg]

headline read soybean prices to rise because of expansion in production of corn.

why?

 

[bsparkyman]

The more acerage utilized for corn planting, less for beans, therefore less bean production.

 

[myminitrading]

I also just heard on Bloomberg Radio, Soybeans will climb in 2007, all this tells me get the heck out!

 

[Buy1Sell2]

Quote from bsparkyman:

The more acerage utilized for corn planting, less for beans, therefore less bean production.

And less Cotton acreage. But please just trade the charts.