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Strategies & Market Trends : Grain Futures Trading -- Ignore unavailable to you. Want to Upgrade?

To: nicewatch who wrote (270)	11/30/1998 4:29:00 PM
From: MJR	Read Replies (2) \| Respond to of 645

Wow - great day for those who were long Jan Soybeans.. up 11 1/4 today! Charts still look good for continued upward momentum, although I would hold initiating longs at the open as a profit-taking pullback is likely.. tonight's Project A will give us a better feel on that. All in all though, a pretty decent upward trip looks likely for a while which could easily surpass the $6 mark returning beans to prices not seen since July. My guess is that farmers will hold their stocks until after 1/1/99 keeping the supply down.. this is bullish too! March 99 Corn also seems ready to rally for similar reasons, although I don't think it will be as dramatic. Longs on CH99 are a pretty good bet into mid-December though. Good Luck, Mike