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 ended the session steady to slightly higher, and May futures were able to pick up more than 19 cents on the week.USDA weekly export sales reported for old crop were solid, but new crop sales were below expectations. US soybean export commitments YTD are still at 100% of year ago, ahead of the 97% average pace. Meal commitments are at 85% vs. 84% average. The story in meal is that unshipped business is 198% of last year at 3.009 MMT. Argentina Ministry of Agriculture reported 33% of the crop is harvested vs 22% at this time last year.Celeres issued its Brazilian bean crop production estimate at 93.9 MMT.The weekly COT report from the CFTC showed managed money accounts increasing their net short position by more than 33K contracts, to show their net position as of Tuesday at -81,716 contracts.The net position reported for the commercials was net long 5,113 contracts.
May 15 Soybeans closed at $9.68 3/4, up 2 3/4 cents,
Jul 15 Soybeans closed at $9.71 1/2, up 2 1/2 cents,