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Beans showed yesterday they were not immortal – April 26, 2012 - INTL FCStone Blog
International Assets Holding Corporation > INTL FCStone Blog > Posts > Beans showed yesterday they were not immortal – April 26, 2012
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Beans showed yesterday they were not immortal – April 26, 20124/26/2012 8:32 AM

SOYBEANS: BETTER
Beans showed they were not immortal yesterday slowing down their rally after backing off a contract high of $14.96 ¾. Overnights continued to back off, with outside markets coming in late and stabilizing. Forecasters are still looking at the possibility of freezing temperatures into the weekend and possibly into the beginning of next week, with a mid-late week warm up. The forecast for the 6-10 shows moisture is steady and should be falling through all parts of the Midwest next week. There are frost rumors concerning Argentine beans, but Buenos Aires Grain Exchange is reporting the low temperatures will be insignificant to their mature crop. This morning, resistance in the nearbys stands at $15.00. The deferred will find support at $14.56 and share resistance at that $15.00 mark.

Kyle Smith, Mike O'Dea, Ben Parks, Collin Hulse, Ingrid Gronlund