06/08/2016 – Soybeans
July soybeans:
1. In yesterday’s (Tuesday, June 7) Williams edge live meeting it was noted that July soybeans were expected to decline further and test/attempt $11.24/$23 or lower. It was noted that any daily close above $11.39 would negate the indication.
2. Subsequently, July soybeans closed the session at $1142.60 (above $11.39) negating the indication and resulting in a small loss on the entire position.
3. Yesterday’s daily close above $11.39 is an unusual position and opens the possibility for substantially higher prices in July soybeans over the next several days. This possibility will be discussed in today’s Williams edge live meeting.
David Williams
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.