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Soybeans Hit A 6 Week High

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Soybean Futures--- Soybean futures in the January contract are trading higher for the 2nd consecutive session up $0.10 at 10.04 a bushel hitting a 6 week high as the grain market in general is starting to come to life to the upside.

I will be looking at a bullish position if prices break the October 13th high of 10.13, however there is a price gap that was created in today's session between 9.96/9.98 as I see no reason for prices to gap higher today as I think that will be filled so be patient while keeping an eye on this to the upside.

Soybean meal which I've written about in the past has hit a 4 month high & is the leader out of this complex up another $5 a ton in today's trade continuing its bullish momentum as soy meal & soybeans are trading above their 20 and 100 day moving average as the trend is to the upside at the present time.

Harvest is completed in the United States as we will now focus on next year's crop which could produce around 4.4 billion bushels, but at the present time strong demand for soy meal is pushing up prices as corn and wheat also look like they have finally bottomed out as they were the weak sisters out of the grain sector.

Traders are keeping a close eye on South American weather as the soybean crop is off to a decent start, but its a long growing season and the weather phenomenon known as La Nia would cause some weather problems therefore reducing yield potential.




If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit

Skype Address: mseery TWITTER---@seeryfutures



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About the author

Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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