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Here Is My Soybean Recommendation

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Soybean Futures---Soybean futures in the July contract finished higher by 4 cents at 8.35 a bushel selling off from session highs at the 8.48 level as massive short-covering is taking place as the large money managed funds are offsetting some of their record short positions.

At the current time I'm now recommending a short position from around the 8.35 level while placing the stop loss above today's high of 8.48 as the risk is around $650 per contract plus slippage and commission as I think the risk/reward is in your favor as this rally is exaggerated to the upside in my opinion.

Soybean prices traded as low as 7.91 in Monday's trade as we experienced about a 60 cent rally as you have to remember the excessive rain that we received in certain parts of the midwestern United States will cause farmers to switch from growing corn to soybeans as the fundamental and technical picture for this commodity remains negative. As I wrote about in yesterday's blog there was a price gap that was created between 8.36 / 8.40 and that was filled in today's trading action before selling off near the closing bell so play this to the downside while risking 2% of your account balance on any given trade.

The volatility in soybeans will increase substantially and will become very violent over the summer months so make sure that you understand the risk going forward as the weather will certainly dictate short term price action.




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

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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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