Sideways Trade Continues at Mid-Day
Nov 04, 2011
The sideways trade that we have seen for the last two weeks in the grains has continued this morning. As you can see from this screenshot taken from our Firetip trading platform we have corn down 1 1/4, beans down 3 3/4 and Chicago wheat down 3.
We have included November soybeans in this matrix as a reminder to producers that first notice day for this contract has passed. Producers that do not intend on delivering should roll-out to a more distant month. Additionally, once a contract's first notice day has passed there are no limits on price action. In today's trade this isn't an issue but on report days or when market volitlity is high price movements can be large.
Moving to livestock, live cattle and lean hogs remain in the top half of their recent trading range and are making small gains today. To get live quotes in your home today for $7 commissions per side, take a demo of Firetip!
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