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 lost 8 cents in the July contract, but only half a cent for November. Jul16 meal settled $6.00 lower. The weekly report from USDA showed US soybean plantings 73% complete as of Sunday night. A survey of trade analysts had the average guess at 71%. The crop was 68% planted by this week last year, and the 5yr avg for this date is 66%.US soybeans were shown 45% emerged; five points ahead of the 5yr average for this week. USDA reported that there were 182,261 MT of US soybeans inspected for export during the week ending last Thursday. This more than doubled both the previous week’s soy inspections and the weekly total during the same week a year ago. As of May 26, YTD inspections were 43.398 MMT, just 7.6% behind the same period in 2014/15. Under the daily reporting system, private exporters announced that 213,000 MT of US soybeans were sold to unknown destinations this morning, with 140,000 MT of that for 2016/17 delivery.
Jul 16 Soybeans settled at $10.78 1/2, down 8 cents,
Aug 16 Soybeans settled at $10.76 1/2, down 6 1/2 cents,
Sep 16 Soybeans settled at $10.64 1/4, down 3 1/4 cents,
Nov 16 Soybeans settled at $10.55 3/4, down 1/2 cent,
Jul 16 Soybean Meal settled at $396.60, down $6.00,