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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 ended the session with losses of only a couple cents today.October meal futures lost $2.30/ton. The US dollar was softer today, pausing near its high for the move and giving most of the commodities a bit of a breather after persistent pressure recently. Crop condition ratings did decline due to the frost and freeze, but the market is treating any losses as insignificant. Ratings dropped in MI, MN, MO, NE, NC, ND & SD.Early planting has started in Brazil, with conditions on the dry side but looking wetter going forward. Chinese Customs confirmed total August soybean imports of 6.03 MMT.
Nov 14 Soybeans closed at $9.36 1/4, down 2 cents,
Jan 15 Soybeans closed at $9.43 3/4, down 2 cents,
Mar 15 Soybeans closed at $9.51, down 1 1/4 cents,
May 15 Soybeans closed at $9.58, down 3/4 cent,
Oct 14 Soybean Meal closed at $317.10, down $2.30,