October 31, 2014

Soybean Commentary

Posted 10/30/14

The soybean markets volatile trade continued again today as both beans and meal scored fresh highs for the move in the overnight market while the soy oil made a new high in the day session. The soybean and meals bulls could not sustain the overnight momentum into the day session and the market closed on the session lows. New fundamental information to trade today was lacking. Soymeal spreads backed off as did the Nov 14/Nov 15 bean spread. This seemed to encourage at least some profit taking…

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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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