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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 mostly a dime higher at midday, and January bean meal is around $6 higher. Export Inspections in the weekly USDA report were 1.820 MMT, which was smaller than the total for the previous week, but larger than the same week a year ago. Year to date inspections are 122.5% of a year ago. Canola futures are higher today and the Canadian dollar is lower; both offer support to the soy complex. The weekly Commitment of Traders report from the CFTC showed managed money accounts had backed off a bit of their net-long position in soybeans by -7,390 contracts, showing the official positions as of the closing bell on Tuesday afternoon.