Futures Traders: Get FREE daily videos covering today's hottest market
Twenty-five-year commodity market veteran Jim Prince is an expert in the principles of technical trading. Each day Jim reviews the biggest moves in the commodity markets, identifying formations and planking trading strategies. And now, in his free Daily Alert, Jim will share with you his hot pick of the day with an exclusive 3-5 minute video.
With each Daily Alert video Jim reviews first-hand his featured chart of the day, discusses trading strategy, and highlights possible entry and exit points.
Enter your e-mail below to view the latest Daily Alert and receive a complimentary PDF on Cycle Trading techniques to find the right conditions for entering the market.
Soybean futures are currently 5 to 8 cents lower in overnight trade, after losing 9 to 12 cents on Friday. China canceled a purchase of 200,000 MT of beans for 14/15 delivery, spooking old crop bulls. September beans were down 10 1/2 cents (-1.1%) Friday to Friday. The Commitment of Traders report on Friday put the net long position of managed money accounts at 62,295 contracts as of the Tuesday close. This was a weekly net long reduction of 27,924 contracts. There were still zero deliveries vs. August soybean or soybean meal futures. The oldest long in the beans is from November 10, 2014.