August 30, 2014

Soybean Commentary

Posted 8/29/14

A mixed session was seen to finish the week’s trade as the September contract closed higher while the new crop beans were under pressure and came within 1 ¼ cents of the contract low. We did see some last minute buying that brought the market off the lows of the day.

It seemed most of the session was dominated by traders positioning for the three day Labor Day weekend. Weather continues to press the new crop lower as the warm wet forecast will allow for the bean plants to add pods and fill them out to the max. In overnight export business, the USDA announced…

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    Allendale Advisory Contributor:

    Jim McCormick

    Jim McCormick

    Jim started with Allendale in 1997 after earning an Agricultural Economics degree from Purdue University. He has been a featured speaker at several of Allendale’s Outlook Conferences.

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