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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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Soybeans are currently trading 3 to 24 cents higher with September up nearly a quarter-dollar as the short squeeze in old crop beans and meal continues. Sept meal is $17.70 higher on the day.Flash flood warnings are in effect today for IL, IN and OH. USDA reported another 120,000 MT of export sales for 2014/15 to China this morning.The January15 soybean futures contract on the Dalian exchange closed at the US equivalent of $19.90, up about 26 cents on the session.It was as high as $20.58 as recently as August 14.Cash bean bids in Central Illinois were reported as much as 320 cents over the November contract on Thursday.
Sep 14 Soybeans are at $11.60 3/4, up 24 1/2 cents,
Nov 14 Soybeans are at $10.43 3/4, up 5 1/2 cents,
Jan 15 Soybeans are at $10.50 1/2, up 5 1/4 cents,