|
YOU ARE HERE: Futures » Futures Markets » Grains
FlipCharts
Soybeans Futures PricesFriday, May 24th, 2013Current Prices | End-of-Day Prices | Options Quotes | Spread Quotes | Profile
Soybean futures are currently 7 cents lower for July and 3 to 4 cents higher for new crop Sep and Nov after a wild Thursday. One of our tried and true market axioms is that “Carries are finite, but inverses are infinite”. July futures continue to be volatile, with few or no old crop US beans likely to be available for July delivery, and thus a potential delivery squeeze play. On the other hand, the index funds begin rolling out of long July positions on May 31, and other traders are anxious to take profits ahead of the 3-day weekend. USDA put the weekly soybean export sales number at 1,022,400 MT. That was bullish as it included unexpected old crop business. The strike by tug boat operators at the main Argentine port of Rosario will continue into next week, as negotiations broke down today. More than 100 vessels are now believed to be affected.
Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.
|




Technical


