October 24, 2014

Soybean Commentary

Posted 10/23/14

Beans rallied big time today and with November closing at $9.93 1/4, up 30 1/2 cents and just 1 cent off the high of the day.  Where is this strength coming from? Well here’s a thought:  $10 puts down to $9.50 puts and everything in between looked good last week, right?  So what happened? With November options expiring tomorrow, and the potential for huge losses for anyone short the market, we witnessed a lot of panic buying today. Could you see more of this tomorrow? You bet. Before the bears step out onto the window ledge though, let’s put this into perspective…

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    Allendale Advisory Contributor:

    Jim McCormick

    Jim McCormick

    Jim started with Allendale in 1997 after earning an Agricultural Economics degree from Purdue University. He has been a featured speaker at several of Allendale’s Outlook Conferences.

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