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 maintained double-digit losses through the day; meal added to its red ink, ending down $7.70 for the March, and bean oil was down 77 cents. The strong dollar, especially against the Brazilian real, is a threat in this market. Lin Tan, a bean buyer for the Chinese company Hopefull, calculates the crush margin for US beans in GuangDong province to be a touch lower than beans from Brazil or Argentina at this time, although margins for beans from all three countries are back in the black, after dipping into the red zone during January. Chinese imports are expected to be slightly less than 5 MMT for the month. The trade average guess for soybean ending stocks next Tuesday is 377 million bushels, slipping about 8mbu from the February USDA figure of 385 mbu.
Mar 15 Soybeans closed at $9.89, down 19 3/4 cents,
May 15 Soybeans closed at $9.94, down 18 1/4 cents,
Jul 15 Soybeans closed at $9.99 3/4, down 17 1/2 cents,
Aug 15 Soybeans closed at $9.98 1/4, down 17 cents,
Mar 15 Soybean Meal closed at $334.10, down $7.70,