Video Alert and PDF: Learn from a Market Veteran (Free!)
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.
See the markets Jim is watching each day
Get a free companion PDF that explains his "Cycle Trading" method
Learn how to identify chart formations that indicate potential breaking commodity markets
Watch Jim analyze actual charts in his videos, pointing out formations and signals
All you need to do to watch today's video and get the PDF is confirm here:
Soybean futures are 12 to 14 cents per bushel lower at midday. Nov15 beans hit a new calendar year high of $10.40 this morning before retreating, marking a 13.88% increase in price since the low on June 15. While wire services estimated fund buying of 40,000 contracts yesterday, preliminary open interest rose only 6,586 lots. USDA reported that planted acreage was 500,000 acres larger than March intentions (an all time high), but was below pre-report projections. According to Bloomberg, biodiesel production has dropped over 4% in 2015, marking the first annual production slowdown in history. The national average cash price as of Tuesday night was $10.56 1/4, up 53 3/4 cents from Monday night. September soybean futures on the Dalian exchange were down 25 cents. The CME group will raise soybean margins after the close this afternoon, up $330 to $2,200 per contract.
Jul 15 Soybeans are at $10.42 3/4, down 13 1/2 cents,
Aug 15 Soybeans are at $10.36 3/4, down 12 3/4 cents,
Sep 15 Soybeans are at $10.28 1/2, down 13 cents,
Nov 15 Soybeans are at $10.24 1/2, down 13 1/2 cents,