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 planning 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 trading mostly between two and three cents lower so far on Tuesday, after they were mostly 9 to 10 1/4 cents higher yesterday. Dec bean oil was up 87 points on the session, accounting for most of the gain in soybeans. Weekly export inspections reported by USDA were the largest so far this marketing year at 2.739 MMT. That is up 9.2% vs. last week and +2.78% vs the same week last year. We continue to expect at least one 3 MMT week this fall. Traders were looking for NASS to show about 77% of the US crop harvested, and the official figure was 76%. That is 14 points farther along than a week earlier, and on par with the 5yr avg pace. SAFRAS estimates that Brazilian soybean planting is 26% completed, about 8 points ahead of last year for this date.