06/12/2014 – Soybeans
Issued: 06/11/2014
July soybeans:
1. In today’s (Wed., June 11) William’s edge live meeting it was noted that any further downside break in July soybeans below the recent forecast $14.56 target would send prices sharply lower and test/attempt $1441/$40 (or lower).
2. After today’s crop report the market ultimately broke below $14.56 and has made a session low of $14.44, so far.
3. Although no official short entry occurred, self-directed traders should expect lower prices into tomorrow’s (Thursday, June 12) session. Will update.
David Williams
Issued: 06/12/2014
July soybeans:
1. In yesterday’s (Wed., June 11) Williams edge live meeting it was noted that any break below $14.56 in July soybeans would send prices sharply lower and test/attempt $14.41/$40 initial profit target, and lower.
2. Today’s (Thursday, June 12) soybeans session declined sharply, completing both the $14.40 downside target and lower, making a session low of $14.28, so far.
3. Self-directed traders based upon the original forecast should exit the majority of their remaining short position at this point (current price, $14.28).
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.