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Soybean Meal Breaks 4 Day Winning Streak


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Soybean Meal Futures---Soybean meal futures in the March contract finished down 60 points at 321.60 breaking a 4 day winning streak in a very quiet trade in Chicago this Tuesday afternoon still hovering near an 11 week high.

Traders are keeping a close eye on weather conditions in South America which has turned dry in certain key growing soybean regions as fundamentally speaking this market still remains bearish, but prices are continually grinding higher as I'm a technical trader as I think prices have bottomed out.

I have been recommending a bullish position from around the 317 level and if you took that trade continue to place the stop loss at 307 as an exit strategy and if the hot & dry conditions persist you will see the volatility spike coupled with the fact that prices would move substantially higher in my opinion.

Soybean meal prices are trading above their 20 and 100 day moving average telling you that the trend is to the upside as we need to break the October 15th high of 327 in my opinion & if that does occur I will be possibly looking at adding more contracts to the upside as adding to winners and getting out of losers is the way to trade over the course of time.

Many of the commodity markets are starting to percolate to the upside as I think many sectors look cheap especially compared to the U.S economy which is very strong at this time so continue to place the proper stop loss.

TREND:---HIGHER

CHART STRUCTURE: IMPROVING

VOLATILITY---LOW

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 www.seeryfutures.com

Skype Address: 5da1f85979b7117b

TWITTER---@seeryfutures

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Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.



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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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