๐ฑ Soybean Update ๐
Fundamental Data๐
๐ฑSoybean Marketing Year Progress (23/24)
โโโโโโโโโโโโโโโ 27.62%
Export Inspections ๐ขโก๏ธ๐
1,108,864 Metric Tons
โฌ๏ธ 464,425 Metric Tons week vs. last week
โฌ๏ธ 1,120,580 Metric Tons this week vs. this week last year
โฌ๏ธ 800,246 Metric Tons this week vs. 5-Year Average This Week
Export Sales๐บ๏ธ๐ซฐ
32,399,826 Metric Tons (Cumulative, Current Marketing Year)
โฌ๏ธ 4,898,256 Metric Tons this week vs. this week last year
Price Sentiment (Community Polling)๐
Bullish ๐ฉ๐ฉ๐ฉโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธ 24%
Neutral ๐ซ๐ซ๐ซโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธ 27%
Bearish ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธ 44%
Fund Net Position๐ฐ
Chicago Soybeans: +36,633 Contracts (Position as of 12/05)
Funds have been reducing their net long position 3 weeks in a row
Noteworthy News / Trends ๐
๐ด Funds have been reducing their net long position, 3 weeks in a row
๐ด/๐ข Export interest for US Soybeans is considerably weak in comparison to previous marketing years, but has improved recently
๐ด The spread between January-March futures continues to show weakness (carry is not bullish)
๐ข Brazilian Soybean production decreased to 161 MMT (USDA) and 160.177 MMT (CONAB)
Commentary & Technicals๐น
*None this week*
Watch the following levels ๐
๐ข Upside Targets: 13.51, 13.89, 13.98
๐ด Downside Targets: 12.92, 12.705, 12.66
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 27.62%
Export Inspections ๐ขโก๏ธ๐
1,108,864 Metric Tons
โฌ๏ธ 464,425 Metric Tons week vs. last week
โฌ๏ธ 1,120,580 Metric Tons this week vs. this week last year
โฌ๏ธ 800,246 Metric Tons this week vs. 5-Year Average This Week
Export Sales๐บ๏ธ๐ซฐ
32,399,826 Metric Tons (Cumulative, Current Marketing Year)
โฌ๏ธ 4,898,256 Metric Tons this week vs. this week last year
Price Sentiment (Community Polling)๐
Bullish ๐ฉ๐ฉ๐ฉโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธ 24%
Neutral ๐ซ๐ซ๐ซโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธ 27%
Bearish ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธ 44%
Fund Net Position๐ฐ
Chicago Soybeans: +36,633 Contracts (Position as of 12/05)
Funds have been reducing their net long position 3 weeks in a row
Noteworthy News / Trends ๐
๐ด Funds have been reducing their net long position, 3 weeks in a row
๐ด/๐ข Export interest for US Soybeans is considerably weak in comparison to previous marketing years, but has improved recently
๐ด The spread between January-March futures continues to show weakness (carry is not bullish)
๐ข Brazilian Soybean production decreased to 161 MMT (USDA) and 160.177 MMT (CONAB)
Commentary & Technicals๐น
*None this week*
Watch the following levels ๐
๐ข Upside Targets: 13.51, 13.89, 13.98
๐ด Downside Targets: 12.92, 12.705, 12.66
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.
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