It's good that they also offer Ag free webinars. I listened to one by fellow named Pat Braham's who said he was a corn trader. I don't know much about ag commodities myself but welcome any learning.
Exactly 2 weeks ago a friend of my who is a farmer called me and said he is seeing abnormal moves in Soybean Oils...not soybeans. He plants corn.
Long story short he went long Aug08 Soybean Oil contract and he adds 2 contracts as he goes up. He is up to 19 contracts right now. His first entry was around .61 and now soybean oils trading around 69 I think. Spoke to him 2 days ago...he is up some $58K in.... It appears China can afford to buy all of US crop but that country doesn ot disclose all information like US does. There was a report that China migh face crop shortage...which fueled the rally but no report from China govt....I don't know I heard anything.
Very interesting developments in commodities, it seems for every day ath stock indexes went down...commodities making new highs.
Interesting.
Exactly 2 weeks ago a friend of my who is a farmer called me and said he is seeing abnormal moves in Soybean Oils...not soybeans. He plants corn.
Long story short he went long Aug08 Soybean Oil contract and he adds 2 contracts as he goes up. He is up to 19 contracts right now. His first entry was around .61 and now soybean oils trading around 69 I think. Spoke to him 2 days ago...he is up some $58K in.... It appears China can afford to buy all of US crop but that country doesn ot disclose all information like US does. There was a report that China migh face crop shortage...which fueled the rally but no report from China govt....I don't know I heard anything.
Very interesting developments in commodities, it seems for every day ath stock indexes went down...commodities making new highs.
Interesting.
.