7/22/2005

The weather in soybean areas is very bad. The crop hasn't been ruined yet but there could be severe damage. I'd say that seventy five percent of the big money made in commodities has been made in beans (not energy). The contract is standard 5,000 bushels and each dime move is $500; each dollar is $5,000. Here's where it gets to be fun. Beans can easily top $9 and even $10. Market is currently trading in the $6.50 area. If it goes to $9.50 you can pick up 15K. This is a high risk market and you have to have the risk capital to play, but if you have balls, beans is the place to be looking RIGHT NOW. Not for amatuers and certainly not for a first time player. Crop comes in late so November beans is where you want to be. This is BIG TIME risk.