FOR WEDNESDAY: (9/20) Grains are rather oversold and we have to give the market a chance to bounce into Tuesday night. Not likely to hit more ideal targets but not willing to chase without a bounce. We continue to focus on looking for recoveries to sell. Grains look lower this week so hedging and cash sales will be important on Tuesday/Tuesday night.
NOV. SOYBEANS (electronic ok)
SWING TRADING RECOMMENDATION: Sell Nov. beans at 974 and 979 with a 989.50 stop.
TODAY’S COMMENTS: (9/20) Beans are struggling but will give this one the most chance on Wednesday but our target order seems rather unlikely. We need a rally to 975 or 985 to have a better chance for a good risk/reward on new sales. Computer models still suggest a strong chance for 994 but we’re skeptical unless we get some wild news. Continue to use strength the next days or two to get in last minute hedges and cash needs before we start collapsing to harvest low.