NEW CROP SOYBEANS

If you feel like you are behind in your marketing, we think this is a good opportunity to make an incremental sale, grab some downside protection, and or sell a call in new crop soybeans.

If you have questions or want to put together a strategy, give us a call.

Office: (806)484-1214

Reason for signal:

Nov beans have clawed back 61.8% of the entire brutal sell off.

The most common level for a relief bounce.

Break above this level and it suggests a move back towards the highs, but this is a good spot to reward if you felt like you missed out just a few days ago.

We’ve ran 30 cents off the lows. There are only a handful of days we’ve traded above this level.

We bounced after giving back 50% of the entire rally. That same level was peak volume. On this bounce, the 61.8% retracement of the sell off is another area of high volume so could offer resistance.