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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 currently down 1 to 3 cents on the session. January soybeans lost more than 16 cents last week. The Informa soybean estimate released on Friday at 88.8 million acres was much higher than the USDA 10 year baseline estimate (84 million) and the 2014 NASS estimate. It was also 500,000 acres larger than their previous estimate, with their surveys showing more producer interest in soybeans. Managed money accounts decreased their net-long position in soybeans by -7,390 contracts in the weekly Commitment of Traders report from the CFTC showing official positions as of the closing bell on Tuesday afternoon.