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 currently 8 to 11 cents lower. Three days of rallies could not recover all the ground November lost on Monday. China booked 300,000 MT of 14/15 beans during the week ending July 23 according to the USDA, but canceled the purchase of 200,000 MT of beans for 14/15 delivery early this morning. That took some steam out of the short squeeze idea. As expected, there were no delivery notices for soybeans or meal on FND. There were 1,242 put out vs. August bean oil, with ADM stopping 75. The oldest soybean long is from 11/10/14. Anecdotal reports from Missouri state that the number of would-be soybean fields that did not get planted is “almost unbelievable.” Based on previous planting progress reports, unbelievable in that state would be about a million acres below intentions.
Aug 15 Soybeans are at $9.80 3/4, down 9 1/2 cents,
Sep 15 Soybeans are at $9.54, down 10 1/2 cents,
Nov 15 Soybeans are at $9.39 3/4, down 10 1/4 cents,