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EC SD | Thanks for posting... I like the setup and it could mean we trade up to the midline around $12 before August. Then if it succeeds there, it is on to fill the gap at $12.40!!
On the flip side, this is a daily chart and it could just be a bull trap forming, and price will be crushed by the shorts next week...
Bulls and Bears make a market!
Now fundamentals tell me we have a high risk bean crop this year with a huge area planted late, very late even. I just got back from a little drive where I saw very short beans everywhere for 1000+ miles across the corn/soy belt. I lot of them looked really sick too. Not sure how the "official" crop ratings are done, but from my view out the window, the soybean crop is far, far from made!! | |
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Bean chart
