Look for Choppy markets in Soybeans!
November 2015 soybeans closed at $10.176 today, 39 cents off the November high. Even though long-term fundamentals are bearish, with the beginning of the holiday season starting next week with Thanksgiving, we anticipate the market to be range bound through the end of the year with the high at $10.566 (November 12, 2014 high) and the low at $9.274(September 29, 2014 low) for a $1.292 range. A break out above the high end of the range would imply strong demand, soymeal issues or weather problems in South America.
If you still have 2014 soybeans to sale, we recommend making any remaining sales on rallies in the market. As for 2015 production, look to make any sales above $10.25 if possible because we are of the opinion November 2015 soybeans have more potential to be below $9 if a shift in acres is seen and South America has a good crop.
For those of you who are just beginning or just want to refresh yourselves with marketing terms, ideas, and strategies, on Tuesdays and Thursdays we will have articles regarding terminology and marketing. If you have ideas, email me at email@example.com.
This material has been prepared by a sales or trading employee or agent of Utterback Marketing Services, Inc. and is, or is in the nature of a solicitation. This material is not a research report prepared by Utterback Marketing Services, Inc. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions.
Distribution in some jurisdictions may be prohibited or restricted by law. Persons in possession of this communication indirectly should inform themselves about and observe any such prohibition or restrictions. To the extent that you have received this communication indirectly and solicitations are prohibited in your jurisdiction without registration, the market commentary in this communication should not be considered a solicitation.
The risk of loss in trading futures and/or options is substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance, whether actual or indicated by simulated historical tests of strategies, is not indicative of future results. Trading advice is based on information taken from trades and statistical services and other sources that Utterback Marketing Services, Inc. believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades.
You should read the "risk disclosure statement" and "option disclosure statement" and should understand the risks before trading. Commodity trading may not be suitable for recipients of this publication. Those acting on this information are responsible for their own actions. Utterback Marketing Services, Inc. assumes no responsibility for any errors or omissions. Any republication or other use of this information and thoughts expressed herein without the written permission of Utterback Marketing Services, Inc. is prohibited. Copyright Utterback Marketing Services, Inc. 2014.