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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 trading 3 cents lower to 3 cents higher. Trade ideas for the USDA Weekly Export Sales report were between 900,000 MT to 1.2 MMT range. USDA put the actual figure at 1.456 MMT. Sources expected positive old crop sales, i.e. larger bookings than cancellations or deferrals. Some sources were also expecting new crop soybean meal bookings as large as 500-650,000 MT. The debate continues whether current dry conditions are hurting the crop in the WCB. Cool temps are mitigating moisture stress from what it might otherwise be.