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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 8 to 10 cents lower. Funds were estimated to have been net buyers of roughly 1,000 lots of soybeans on the day. Out of the last 10 days, the front month Aug 14 contract has posted 8 up days. Combined old and new crop weekly export sales of 1.456 MMT, were bullish as the trade had only been expecting 900,000 MT to 1.2 MMT. Soybean meal bookings were also larger than the trade was expecting with the 14/15 bookings published at 707,400 MT, more than double of any week this year for the next marketing year sales.