Friday, September 12, 2008

Could I Have 10,000 Soybeans, Please?

From MarketBeat:

There are some fireworks in the soybeans market.

Before noon, the September front-month soybean futures soared 16.8% to $14.20 per bushel on the Chicago Board of Trade, while other longer-term contracts are just marginally higher.

With the September contracts to expire today, “the shorts are getting squeezed by the longs,” said Tim Hannagan, senior grain analyst at Alaron Futures and Options in Chicago...MORE