Fundamental Data๐
๐ฑSoybean Marketing Year Progress (23/24)
โโโโโโโโโโโโโโโ 23.76%
Export Inspections ๐ขโก๏ธ๐
1,609,413 Metric Tons
โฌ๏ธ 330,666 Metric Tons week vs. last week
โฌ๏ธ 420,260 Metric Tons this week vs. last week
โฌ๏ธ 319,437 Metric Tons this week vs. 5-Year Average This Week
Export Sales๐บ๏ธ๐ซฐ
29,054,927 Metric Tons (Cumulative, Current Marketing Year)
โฌ๏ธ 6,928,917 Metric Tons this week vs. this week last year
Price Sentiment (Community Polling)๐
Bullish ๐ฉ๐ฉ๐ฉ๐ฉ๐ฉโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธ 47%
Neutral ๐ซ๐ซโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธ 18%
Bearish ๐ฅ๐ฅ๐ฅโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธ 24%
Fund Net Position๐ฐ
Chicago Soybeans: +87,913 Contracts (Position as of 11/14)
Funds have been adding to their net position 5 weeks in a row
(Fund position will be updated on 11/27 due to Thanksgiving holiday)
Noteworthy News / Trends ๐
๐ด Brazilian production is still seen at a record +160 million metric tons, according to analysts
๐ด Import interest into China (from US) is considerably weak, even when considering recent China purchases (+ Unknown)
๐ด The spread between January-March futures continues to widen (carry is not bullish)
๐ข 5-day precipitation is mixed for Brazil - rains in the forecast in the southern states, but lack of rain in the northern growing regions
๐ข/๐ด Logistics at the ports of Brazil are mounting (congestion). For US Logistics the constraint appears to be the Panama Canal which has announced a reduction of the number of ships that will be able to transit through the canal daily from 24 currently to 18 in February 2024.
Fund Net Position๐ฐ
Chicago Soybeans: +87,913 Contracts (Position as of 11/14)
Funds have been adding to their net position 5 weeks in a row
(Fund position will be updated on 11/27 due to Thanksgiving holiday)
Commentary & Technicals๐น
Not much to add that has not been explained already.
Watch the following levels ๐
๐ข Upside Targets: 13.78, 13.89, 13.98
๐ด Downside Targets: 13.27, 13.15, 13.00
Investment Risk Disclaimerโ ๏ธ
This information is provided for informational and educational purposes only and is not intended to constitute investment, financial, legal, tax or accounting advice. The views expressed are those of the author and do not necessarily represent the opinions or advice of our firm. Futures, options, and over-the-counter derivatives involve a high degree of risk and may not be suitable for all investors. Past performance is not indicative of future results.
Investments or strategies mentioned herein may not be suitable for you. The information contained herein does not take into account the particular investment objectives, financial situations, or needs of individual users. Before making any investment decision, you should perform due diligence and consider seeking advice from an independent financial or investment advisor.
All investments involve risk, including the possible loss of principal. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. We do not guarantee any outcomes regarding your use of the information provided.
๐ฑSoybean Marketing Year Progress (23/24)
โโโโโโโโโโโโโโโ 23.76%
Export Inspections ๐ขโก๏ธ๐
1,609,413 Metric Tons
โฌ๏ธ 330,666 Metric Tons week vs. last week
โฌ๏ธ 420,260 Metric Tons this week vs. last week
โฌ๏ธ 319,437 Metric Tons this week vs. 5-Year Average This Week
Export Sales๐บ๏ธ๐ซฐ
29,054,927 Metric Tons (Cumulative, Current Marketing Year)
โฌ๏ธ 6,928,917 Metric Tons this week vs. this week last year
Price Sentiment (Community Polling)๐
Bullish ๐ฉ๐ฉ๐ฉ๐ฉ๐ฉโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธ 47%
Neutral ๐ซ๐ซโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธ 18%
Bearish ๐ฅ๐ฅ๐ฅโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธ 24%
Fund Net Position๐ฐ
Chicago Soybeans: +87,913 Contracts (Position as of 11/14)
Funds have been adding to their net position 5 weeks in a row
(Fund position will be updated on 11/27 due to Thanksgiving holiday)
Noteworthy News / Trends ๐
๐ด Brazilian production is still seen at a record +160 million metric tons, according to analysts
๐ด Import interest into China (from US) is considerably weak, even when considering recent China purchases (+ Unknown)
๐ด The spread between January-March futures continues to widen (carry is not bullish)
๐ข 5-day precipitation is mixed for Brazil - rains in the forecast in the southern states, but lack of rain in the northern growing regions
๐ข/๐ด Logistics at the ports of Brazil are mounting (congestion). For US Logistics the constraint appears to be the Panama Canal which has announced a reduction of the number of ships that will be able to transit through the canal daily from 24 currently to 18 in February 2024.
Fund Net Position๐ฐ
Chicago Soybeans: +87,913 Contracts (Position as of 11/14)
Funds have been adding to their net position 5 weeks in a row
(Fund position will be updated on 11/27 due to Thanksgiving holiday)
Commentary & Technicals๐น
Not much to add that has not been explained already.
Watch the following levels ๐
๐ข Upside Targets: 13.78, 13.89, 13.98
๐ด Downside Targets: 13.27, 13.15, 13.00
Investment Risk Disclaimerโ ๏ธ
This information is provided for informational and educational purposes only and is not intended to constitute investment, financial, legal, tax or accounting advice. The views expressed are those of the author and do not necessarily represent the opinions or advice of our firm. Futures, options, and over-the-counter derivatives involve a high degree of risk and may not be suitable for all investors. Past performance is not indicative of future results.
Investments or strategies mentioned herein may not be suitable for you. The information contained herein does not take into account the particular investment objectives, financial situations, or needs of individual users. Before making any investment decision, you should perform due diligence and consider seeking advice from an independent financial or investment advisor.
All investments involve risk, including the possible loss of principal. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. We do not guarantee any outcomes regarding your use of the information provided.