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Soybeans / Canola Feeling Heavy

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  • farming101
    Senior Member
    • Mar 2011
    • 3950
    #11
    12:15 EDT Nov beans up as much as 23.88 cents

    Not dead yet.....

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      • errolanderson
        Senior Member
        • Jan 2012
        • 3123
        #12
        https://www.washingtonpost.com/business/2019/07/30/trump-backpedals-china-threats-trade-deal-shows-signs-slipping-away/?utm_term=.fd7401ec0c37[/URL]

        Nov beans broke $8.90/bu today on China trade frustrations. Fresh bullish news needed ASAP or downtrend continues (IMO) . . . .

          Comment

          • macdon02
            Senior Member
            • Sep 2007
            • 1858
            #13
            Originally posted by errolanderson View Post
            https://www.washingtonpost.com/business/2019/07/30/trump-backpedals-china-threats-trade-deal-shows-signs-slipping-away/?utm_term=.fd7401ec0c37[/URL]

            Nov beans broke $8.90/bu today on China trade frustrations. Fresh bullish news needed ASAP or downtrend continues (IMO) . . . .
            There's some absolutely dirty targets, dollars below that need filling, starting at 776 the big one i believe is high $6 sub $7. This recent run in corn couldn't get through the 50% fib retracement from the 2012 high. I tend to agree we are heading for the shitter.

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              • farming101
                Senior Member
                • Mar 2011
                • 3950
                #14
                I third it...

                  Comment

                  • errolanderson
                    Senior Member
                    • Jan 2012
                    • 3123
                    #15
                    Hopefully a bounce day for canola, beans and co. But not sure how dead the cat is. China and U.S. are obviously not talking . . . .

                    But stock markets appear in-trouble. Crude oil whitewashed yesterday, down 8%. U.S. recession for Q3 appears now coming-in-hard (IMO).

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