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Mascoutah, Illinois | Bob, November beans have resistance at $10.49 in the November contract. December corn which is leading grains should hit its resistance level today at $4.39. If you are looking to sell beans in the near term, watch December corn for your indicator. If corn fails at $4.39, November beans are going to follow and head lower. If corn breaks through $4.39, it should retest the $4.50 level. Corn is your indicator in selling soybeans.
If you are looking longer term, I believe corn trades with a 5 in front of it and beans $11.25-$11.75 heading into next spring. I hope this helps.
Edited by djmcountryboy 8/27/2010 05:54
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What are bean prices predicted to do?
