This article is brought to you by:

P.O. Box 1010, Farwell, Texas

(September 14, 2010) SOYBEANS: Soybeans have made an effort to move back higher, but have failed to see any significant improvement over the last few days. This follows on the heels of a sharp advance in corn prices seen in just the last few days. The last USDA Crop Production report may have been to negative to support a lasting rally in beans even as the rest of the grain complex continues to made advances. Fundamentally, the crop remains in good shape and production expectations remain high. As time goes, it will not take long until harvest proves out earlier forecasts. Long-term support levels still lie below the market around the $9.93 level basis the November contract. If prices close below this level long-term charts will turn down and project a leg down into harvest. As strong as corn prices have been, it will take much higher corn prices in order to support higher soybean prices. On the other side, it will take a close at new highs above $10.57 in order to keep long-term trends pointed higher. For now, short-term trends have turned higher and long-term trends are also hanging on, but the market looks very toppy at these levels.



Bryon Fillpot

Hosted by:
P.O. Box 520526
Independence, MO 64052-0526
Fax: 816-373-3701