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Jim Prince, 25-year commodity market veteran, just posted a 3+ minute video about a recent move in the commodity markets. Watch it now, and he'll send you a free companion PDF and an email reminder every time he posts a new Daily Alert video.
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Soybean futures are currently trading from 3 to 6 cents higher after gaining 5 3/4 to 7 cents on Friday. According to the CFTC on Friday afternoon, managed money held a net long position of 202,173 contracts as of the close on May 24. The spec group reduced their net long position by 2,980 contracts from the previous Tuesday. The Buenos Aires Grain Exchange estimated that Argentinean soybean harvest was 72% complete on Friday, up 11 percentage points from the Friday before. IMEA is estimating Mato Grosso corn production at 21.2 MMT vs. 26.2 MMT LY. Chinese soy futures at Dalian were higher on Monday for the third session in a row.