Futures Traders: Get FREE daily videos covering today's hottest market
Twenty-five-year commodity market veteran Jim Prince is an expert in the principles of technical trading. Each day Jim reviews the biggest moves in the commodity markets, identifying formations and planning trading strategies. And now, in his free Daily Alert, Jim will share with you his hot pick of the day with an exclusive 3-5 minute video.
With each Daily Alert video Jim reviews first-hand his featured chart of the day, discusses trading strategy, and highlights possible entry and exit points.
Enter your e-mail below to view the latest Daily Alert and receive a complimentary PDF on Cycle Trading techniques to find the right conditions for entering the market.
Soybean futures are trading steady to fractionally lower this morning after posting losses of 7 1/2 cents for September, but only 3 cents for the Nov16 and Jan17 contracts on Monday. Private exporters reported to the USDA an export sale of 393,000 MT of soybeans to unknown destinations, but that failed to lift the market. The market wants to see more sales to offset rising production estimates. Weekly crop condition ratings from NASS had the national crop improving one point from last week on our Brugler500 Index. Approximately 94% of the crop is setting pods, a couple points ahead of the 5yr average for this week. The crop is on par with the five year average for this date as far as dropping leaves; reported at 5% as of Sunday.