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 planking 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.
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Soybean futures closed 3 1/2 to 7 3/4 cents higher today. Meal was up a modest $2.70/ton, and soy oil was fractionally mixed.The American Soybean Association issued a carefully worded statement looking forward to increased sales of soybeans and products to Cuba following an Obama administration initiative to normalize relations with that country. Part of normalization would include extending credit for purchases. Trade estimates for the weekly USDA export sales report in the morning are running 500,000-850,000 MT.
Jan 15 Soybeans closed at $10.27, up 3 1/2 cents,
Mar 15 Soybeans closed at $10.35 1/4, up 4 cents,
May 15 Soybeans closed at $10.41, up 4 1/2 cents,
Jul 15 Soybeans closed at $10.46 3/4, up 5 1/4 cents,