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 mixed, with the old crop slightly higher and the new crop losing more territory. The 1.2835 MMT of new crop bookings to China in the weekly export sales report yesterday morning must not have been bullish enough to spook the bears for more than a day. According to the USDA announcement this morning, another 360,000 MT was reported sold to China by private exporters. Mexico bought 134,700 MT of soybean meal for delivery in the 2014/15 marketing year. Old crop FOB basis was up sharply earlier in the week, reflecting a need to get some beans past the crush plants to the port. South American producer selling rose sharply on the rally yesterday.
Aug 14 Soybeans are at $12.08 1/2, up 1 cent,
Sep 14 Soybeans are at $11.08 1/4, down 3 1/4 cents,
Nov 14 Soybeans are at $10.79 1/2, down 5 1/4 cents,