Video Alert and PDF: Learn from a Market Veteran (Free!)
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.
See the markets Jim is watching each day
Get a free companion PDF that explains his "Cycle Trading" method
Learn how to identify chart formations that indicate potential breaking commodity markets
Watch Jim analyze actual charts in his videos, pointing out formations and signals
All you need to do to watch today's video and get the PDF is confirm here:
Soybean futures at midday are trading 5 1/2 to 9 1/4 cents lower on improved precipitation forecasts. A 6 to 10 day precipitation forecast published by DTN shows above normal rainfall is expected in a wide tract from North Dakota to Georgia, and from central Nebraska to central Ohio. Soy meal is trading higher for the third consecutive day, with Jul16 meal currently up $4.60. Stats Canada this morning pegged its latest 2016/17 Canadian canola acreage estimate at 20.02 million acres, up from the group’s March estimate of 19.35 million acres, but down 75,000 acres from 2015/16. On average, trade analysts surveyed by Bloomberg predict June 1 US soybean stocks to be 0.831 billion bushels. If that stands in tomorrow’s quarterly report, it would be 32.5% larger than June 1, 2015.
Jul 16 Soybeans are at $11.44 3/4, down 5 3/4 cents,
Aug 16 Soybeans are at $11.40 3/4, down 5 1/2 cents,
Sep 16 Soybeans are at $11.23 1/2, down 6 3/4 cents,