DNA Scares Bean Pit

  • August 16, 2001
  • Marc Dupee

A study out from Belgian scientists identifies
“Mystery DNA” in the genetically modified “Roundup
Ready” soybean, an herbicide-resistant strain from Monsanto that is
responsible for half the production of beans in the US. Roundup Ready beans
have been used –and eaten by humans and animals — for five years.

This is giving the bean pit reason to sell on fear
that negative public perception about genetically altered soybeans could
curb their demand. Rains across the primary growing region is also providing
a reason to sell in a fundamental-focused session. But
November soybeans
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495 area, nor have they taken out the August 3 pullback low, leaving a
bullish case intact for the breakaway and measuring gaps in the basis
November chart.

T-bonds
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the consumer price index
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Fed to take their focus off curbing price growth and to instead train
their focus on stimulating the economy. 10-years
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higher, with resistance still overhead in the 106 28/32 area. The Fed meets
to decide interest rate policy on August 21. 

In stock index futures,
Nasdaq 100 futures
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Implosion-5 List, are making good on an Off The Blocks
 short entry setup, and
Dow futures
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provide a second entry in a Pullback
From Lows setup. 

Showing continued resilience in their momentum pulse,
euro FX futures
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 start, but are reasserting as they break above the previous intraday high
of the session. The euro FX and

Swiss francs
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List. 

After its biggest run-up of the year yesterday on the severely weak
weekly increase in stockpiles,


natural gas
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the gains as it makes good on its
Turtle Soup Plus One
Sell
 setup. 

In the softs, October sugar
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of its Pullback
From Lows setup.