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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 trading 2 to 6 cents lower at midday after double digit losses earlier in the session. YTD export inspections are still 13.6% larger than last year for this date. There were zero delivery notices vs. March futures overnight. The oldest long is dated 10/6/14. Celeres is estimating the Brazilian crop at 91.04 MMT. Informa this morning put it at 92.5 MMT, which was down 1 MMT. Informa hiked their projected Argentine bean crop to 58 MMT from 57 MMT last month.
Mar 15 Soybeans are at $10.02 1/2, down 8 3/4 cents,
May 15 Soybeans are at $10.06 1/2, down 7 1/4 cents,
Jul 15 Soybeans are at $10.11 1/2, down 6 1/4 cents,