New crop beans are a little indecisive here at this point in time. But there are a few key indicators pointing to a movement upward.
1. Fundamental Analysis:
- China has been on holiday the last week. beans are cheap when comapred to rest of global market.
- China needs to buy beans for nov coverage.
-when they get back you will see big buying which will allow...
Soy on the year over year spread is getting to its widest point and could be setting up a good buying spot. This is a great way to get long beans from this low with great reduction of buying power. After a confirmed bounce off bottom and if we still have enough time will look to adding a theta component to the trade. Please feel free to ask questions.