Wednesday, April 16, 2008

Soybean Recovery Supported By Fundamentals

Whatever caused the earlier sell-off, the bulls have stepped in to buy soybeans. Weather and world events appear to be extremely supportive of soybean prices. This correction today appears to be an excellent opportunity for traders to enter the market or add to their positions. I suspect that recovery will occur quickly, since whatever caused today's rout appears to be contrary to the fundamentals supporting the market.