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 closed almost a dime lower despite continued concerns about dryness in parts of South America. In GuanDong province of China, the crush margin for North American and Brazilian soybeans is still about equal – in the red by about $15/ton –despite the strength in the dollar. On Monday the Yuan tested the boundary of what the government will tolerate when it traded 1.94% weaker than the limit of the reference rate at the Peoples Bank of China. The stronger dollar and weaker Yuan ultimately could hurt US competitiveness. The US national cash price was at $9.33 3/4 on Monday night. That puts the national average basis at -49 3/4 cents, which is 16 1/2 cents weaker than it was a year ago. Turning to 2015 crops, CBO sees a jump from 83.7 million acres last year to 86 million this year, but projects a slight drop in the crop size.
Mar 15 Soybeans closed at $9.73 3/4, down 9 3/4 cents,
May 15 Soybeans closed at $9.81 1/4, down 9 cents,
Jul 15 Soybeans closed at $9.87, down 9 cents,
Aug 15 Soybeans closed at $9.87 1/4, down 9 cents,
Mar 15 Soybean Meal closed at $336.60, down $2.30,