We are long a lot of December Bean Oil that we purchased on the opening this week for clients on Wednesday October 18 at an average price of 2568.We think the market is heading towards 2750 and our stops are at 2440.Pay attention to the gaps on a daily chart of Bean Oil and more important we are working on a monthly reversal in Bean Oil trending higher. We pay attention to this. We are moving into a strong seasonal time for soybeans moving into November and December. Look for it to be soy bean oil led .However the soybean market has a tough act to follow so far here in October rallying from 540 to 613.This is just an incredible performance this time of year.

We wrote earlier this year in this space that the grain markets will trade like the zinc or copper markets have in the last couple years. If there is a production concern for corn there is no telling how high the price of corn will trade. It is very wet in our corn belt presently as producers we work with in Illinois, South Dakota, Ohio and the Delta are falling behind in their corn harvest. We have to get this corn out of the field and then let the demand take this market higher. We are going to have very exciting, very interesting grain markets this winter. Call your RJOFutures representative and take a look at the over night grain trade on the ECBOT.If there are 30,000 or 40,000 contacts trading at night in corn you will know something is going on .If you are thinking about opening an account with RJOFutures call us and see how easy it is to get started.