Aug 31, 2014
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Current Marketing Thoughts

RSS By: Kevin Van Trump, AgWeb.com

Kevin Van Trump has over 20 years of experience in the grain and livestock industry.

Can Demand Keep Bean Prices Higher..

Mar 06, 2014

Soybean market is digesting "better than expected" export sales released this morning by the USDA along with yesterday's announcement that China had "canceled" 245,000 MT's (essentially 4-cargoes). The bulls are winning the battle, and the "cancellations" did very little squelch their desire to pouch this market higher. From a technical perspective, last Thursday's high in the MAY14 contract at $14.45^4 still remains heavy resistance.  Many tech trades believe if we can close above this recent high, $15.00 old-crop bean prices can NOT be ruled out of the realm of possibilities. With new-crop  prices closing in on $12.00, I continue to suggest that producers who have less than 50% sold/hedged, should strongly consider rewarding the market and making catch-up sales. Reducing risk on the rally continues to seem like the best of practice.                             CLICK HERE for my daily report....

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