Look at my Friday, Feb 29th post. I have to toot my own horn, because no one else is interested yet. 10,000 held, the high was 10,776, but for our purposes, call it 10,800. Half-way back is 10400. I think you sell it there the first time up.
In the grains, I think this is a short covering rally. 1.70 down move in the beans, 70 cents in the corn? Since the USDA number? We have to have a rally back. Intermediate term, however, this market looks like it has more work to do on the down side, in both corn and beans. With New crop Beans at 900 and new crop corn at 400, it seems that hedgers will use this opportunity to market some grain.
Good Trading
