Bear Hunting

Bear hunting: The bear trap was sprung in Soybean futures today, as bullish traders jumped all over today's lower opening to send prices higher. Initial calls for a 2 to 4 cent lower opening turned into an8 cent decline, as the USDA raised its ending stocks forecast for Soybeans by 10 million bushels, to a record 565 million bushels. Lower exports were to blame for the increase, as increased Chinese Soybean production should cut into US Bean exports. Read More....