profit taking?

[furrowtickler]

When are the funds going to take profits out of the soyabeans? I assume it may happen at some point then get in again after a 'fund' correction.

[fjlip]

RSI has been over 50 since Sept 3, seems chart has NO resistance, only if buying stops. Rationing demand as we breath. Roll the dice, fortunes to be made or could be made. Turn around news WILL occur... to make money going down. Your best guess...do you feel lucky?

[parsley]

http://www.ft.com/cms/s/0/249211fc-ec1d-11df-9e11-00144feab49a.html#axzz14t5KiAkD

[ado089]

Furrow,
Do you have your answer now? 13-15k contracts traded yesterday when no one was wathcing. I would expect they slowly reposition into into next year now. It could be a bumpy ride out to Feb. Is it raining or isn't it, mixed reports coming out of S. America, comentaries saying that it's drying, weather maps look pretty good. Speculation on 2011 bean acres are already getting out of control, rain predicited in N. Texas could put preasure on wheat. Thre reality is that the US fed has started another buble with intrest rates an QE but like any drug over time it takes more to get less of a high so this one could be short lived. I still believe all comodities are looking good up to Feb then watch out.

[charliep]

Actually the charts are kind of interesting.

Corn is basically still locked in a trading range. $5.40 to $5.90/bu (Dec.).

[URL="http://farms.com/FarmsPages/Markets/tabid/214/Default.aspx?&page=chart&sym=ZCZ10"]Dec Corn[/URL]

Beanoil has been headed higher like a rocket ship. Can it continue this?

<a href=http://farms.com/FarmsPages/Markets/tabid/214/Default.aspx?&page=chart&sym=ZLZ10"&g t;Dec beanoil</a>

Wheat? MGEX range bound $7 to $8/bu?

<a href="http://farms.com/FarmsPages/Markets/tabid/214/Default.aspx?&page=chart&sym=MWZ10"&g t;Mgex Dec Wheat</a>

[ado089]

After doing a little more digging it looks like todays hit was driven by the ETF market, the last few days they've been underperforming compared to the underlying commodity.

[furrowtickler]

Just had a feeling the funds wanted to dump out and take a profit. Shoulda done the same - always go with the gut feeling. May have to wait a few weeks now for that $12 to apear again.

[parsley]

I have a gut feeling it will ONE more time.

and then make sure you have a few bags of rice, sugar, and cocoa, plus canned tomatoes, batteries, a bottle of iodine,and bagged skim milk in the larder. lol Pars