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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 3 to 6 cents higher, after ending Monday with losses of around 22 cents/bu. Technical selling predominated after key speedline support was broken last week. USDA says 76% of the US soybean crop was blooming as of Sunday. This was up 10 points ahead of the previous 5 year average. Pod set is 9 points ahead of schedule, at 35% complete. The 18-state average crop condition rating was pegged at 377 on our Brugler500 Index, up 1 point from last Sunday. Weekly Export Inspections totaled 700,715 MT during the week ending July 21. This was up 75% from the previous week, and nearly 6 times as large as the same week last year. Marketing year to date inspections are now only 5.6% behind last year, as weekly inspections have been larger than last year for three consecutive weeks.