May Soybeans reached the “red line” during the recent two-day corrective rebound. The market also traded into a projected reaction date, setting up a potential reversal. A confirmation of this reaction date signal pattern portends a resumption of the downward trend. For more information about this chart pattern and possible signal, contact us at 1-800-521-0705. By [...]
Market News: Soybeans decline after crop reduced less than expected
WASHINGTON (Dow Jones)–Verbatim text from USDA Supply and Demand report for month ended March 1, 2013: U.S. soybean supply and use projections for 2012/13 are unchanged this month, leaving ending stocks at 125 million bushels. Although soybean export commitments through February exceeded last year’s pace, U.S. exports are expected to decline in the months ahead [...]
Market Alert – Soybeans approaching target objective!! – median line, price action, reversal date
Long March Soybeans from $14.29 1/4 – current price @ $14.67 1/2 – Soybeans have rallied off the double bottom, formed on the upward sloping parallel line, and have surged throughout the trading session. The market is approaching the downward sloping (red) parallel line, where it could hit resistance. This is a good level to [...]
Market News : USDA sees bigger U.S. Corn supplies; stronger Soybean demand
WASHINGTON–Corn supplies in the U.S. will be larger than expected thanks to weakening foreign demand, the U.S. Department of Agriculture said Friday. Domestic stocks of corn will reach 632 million bushels by the end of the 2012-13 marketing year, the USDA said in its monthly World Agricultural Supply and Demand Estimates report. That’s a [...]
U.S. Soy Supply at 48-Year Low as Brazil Ships Held: Commodities
Dry weather and shipping delays in South America are boosting demand for soybeans from the U.S., the world’s largest grower and exporter, and producing the tightest inventories in almost five decades. Stockpiles will shrink to a nine-year low of 130 million bushels on Aug. 31, before the next U.S. harvest, according to the average of [...]
Market news – Corn Falls to 3-Week Low on Slowing U.S. Exports; Soybeans Drop
Corn fell to a three-week low on signs of slowing overseas demand for supplies from the U.S., the world’s biggest exporter. Soybeans also dropped. Sales of corn for delivery before Aug. 31 totaled 12.23 million metric tons as of Nov. 29, down 46 percent from a year earlier, U.S. Department of Agriculture data show. Premiums paid for [...]
Market News – Traders Eye Grain Prices Rebound as Supply Set to Tighten.
Grain prices that tumbled in recent weeks may rebound as demand stays robust while global stockpiles tighten after drought hurt crops from the U.S. to Russia. Corn on the Chicago Board of Trade, the global benchmark, has slipped 13 percent since reaching a record $8.49 a bushel on Aug. 10, and wheat traded in Paris is down 4.8 [...]
U.S. Corn Stockpile Unexpectedly Drops, Sparks Price Rebound
Stockpiles of corn in the U.S., the world’s biggest grower and exporter, were 12 percent lower on Sept. 1 than a year earlier and the smallest before a harvest since 2004. Prices jumped the most since July. Inventories totaled 988 million bushels, down from 1.128 billion a year earlier, the U.S. Department of Agriculture said [...]
Market News Update – USDA Crop Production report!
By Bill Tomson WASHINGTON–The U.S. Department of Agriculture on Wednesday cut its corn and soybean production forecasts again amid widespread drought conditions in the U.S. Cool temperatures and and rains improved conditions in major growing areas last month, but the break in the drought came too late to improve yields for most farmers, the USDA [...]
Market News – USDA Cuts Forecasts for US Corn and Soybeans!
WASHINGTON–Drought in much of the Midwest is taking a sharp toll on corn and soybean yields, according to the U.S. Department of Agriculture, which on Wednesday cuts its forecasts for production this year. The average corn yield this year, USDA said in its monthly supply and demand report, is now estimated to be 146 bushels [...]