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Strategies & Market Trends : Grain Futures Trading

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To: wiley murray who wrote (281)	12/2/1998 9:18:00 AM
From: MJR	Read Replies (2) of 645

Overall, I don't think that yesterday's bean fallout hurt the technicals very much. MACD Histogram still in an uptrend so I'm still bullish. However, rain is still forecasted in hot/dry areas of South America where beans are being planted now. This weather forecast was part of the problem yesterday, along w/ high producer selling when cash prices eclipsed the $6/bu mark. I'm not sure if the hot wx should be much of a factor yet as it's too early in the planting season now. I don't believe today will be a dramatic up day, but again I'm still bullish.. so, may want to initiate longs in SF99 or XSF99. I've never traded the Mid-America contracts.. I may try a bean trade today - they're much lower margin levels, but the contract size is only 1000bu. Init margin is $216 so these are great contracts for those who want lots of diversification, but have small accounts. (www.midam.com for more info) Good luck today, Mike

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