Grain TV by Grain Hedge
Grain TV is a daily recap after the market close, providing opinions on fundamental analysis of market direction, influences and expectations. This daily program is produced by Grain Hedge, a discount brokerage firm that provides farmers and elevators with agricultural intelligence including live market quotes, cash bid data, the Grain Hedge Optimizer™ and mobile trading platforms, all for $7 commission per side. Grain Hedge provides tools to allow farmers the ability to trade when the markets move without having to wait for a broker and the information to execute a marketing strategy with confidence.
Fundamentals and Technicals Look to Push Beans Lower
Nov 08, 2011
For this week's edition of Technical Tuesday's we took a look at the JAN soybean chart.
After last month's WASDE report we started to form a descending triangle trading between 1285 and 1200. Technicians look for a breakout to the down side following a descending triangle, but the fundamentals provided in tomorrow's WASDE report will certainly outweigh any technical formations in the chart as far as the trade is concerned.
We are looking for a slight reduction in soybean yield, but with this an increase in ending stocks. On net we look for this to be neutral to slightly bearish on the bean market as export sales have continued to struggle, and in South America the start of a bin-busting crop season is under way.
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