Exiting Shorts In Soybeans!

Jerry Welch, Commodity Insite!
Call me at 406 -682 -5010
Ennis, Montana 59729

I just posted the Special Email Alert below to all my brokerage clients, to those that subscribe to my twice a day newsletter Commodity Insite and to those that recently bought my book, Haunted By Markets. Those that bought my book receive 1 month free of my newsletter which includes all Special Email Alerts. Anyway, here is what I just broadcast.

—————————————————————————————–

Exit all short soybean positions at the market. November soybeans are now $8.641/2, down $.391/2 and a bit off the low. I have bad mouthed soybeans for months and now wish to exit shorts.

By exiting shorts, I will be flat the grain complex. However, I am very, very close to re-buying KC wheat. Stay tuned.

The corn and soybean data in todaysUSDA report was bearish. For soybeans, the data was bug-eyes bearish. But the wheat data was in my view, quite bullish.

Exit all soybeans and watch for another email from me.

the time is 12:05 p.m. Chicago

—————————————————————————–

As I type furiously away, soybean prices are now 40 cents lower, corn is off 9 cents and KC wheat in the ugly by 10 cents. Needless to say, the grains are doing poorly. Then again so is the critter complex, the metal complex, most soft markets and the mighty Dow Jones that is leaking to the tune of 165 points.

I am now flat the soybean complex having taken more heat on shorts than I expected. But the fundamentals took hold the market and allowed me to exit shorts and get ready for next week.

However, I am holding tight to my shorts in the Dow from yesterday. History shows that a lousy close on a Friday for the Dow can lead to a

Read More Here...

Bookmark the permalink.