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 are trading mostly 2 or 3 cents lower after finishing Wednesday steady to down 4 cents. The USDA reports that a net 1.472 MMT of US soybeans were sold during the week ending last Thursday. The total was well above the 550,000 MT to 1.15 MMT industry analysts were expecting. Total export sales increased by 11% week over week, to the largest weekly total since the week ending December 18, 2014. New crop sales hit a marketing year high. Soybean meal sales netted 204,500 MT after old crop cancellations of 13,900 MT; also exceeding the range of trade estimates (50,000 MT to 200,000 MT). Soybean oil sales were estimated to be between 5,000 MT to 40,000 MT, but were reported at only 4,000 MT. USDA states in the daily reporting system that this morning, China bought an additional 110,000 MT of soybeans, and unknown destinations booked 773,400 MT, both for 2015/16 delivery.
Sep 15 Soybeans are at $8.81 1/2, down 2 1/4 cents,
Nov 15 Soybeans are at $8.71 1/2, down 2 1/2 cents,
Jan 16 Soybeans are at $8.75 1/4, down 2 3/4 cents,