Wednesday, March 12, 2008

Soybeans: Erratic, Unconvincing Trading


I have learned over time that I must always remain alert to the emergence of a new opportunity, but today's soybean trading has been erratic and unconvincing thus far. We are changed less than 5 cents from yesterday's settlement price. Wheat is similarly erratic and unreliable. The CME seemed to suggest this possibility on their pre-market commentary, with no strong news having occurred overnight. This chart suggests difficult trading conditions. I will probably spend a lot of time reading and watching the charts today. I will use the time productively regardless.