Soybean Report, 01/27/2016

Wednesday, January 27, 2016

The soybean market rallied very strong just after 6:00AM this morning. Traders are considering selling the bounce on what appears to be a lack of fundamental news. This could prove difficult after both the Dalian and Paris futures markets trade higher overnight. We could see a push for bushels out of China in front of the upcoming Chinese New Year. Nothing slows the market down more than the Chinese New Year. The US export sales will be delayed until Friday morning. Reports indicate Egypt cancelled a tender for Soybean oil on elevated price levels. Most eyes will be glued to the FOMC release this afternoon. Outside markets will likely have a strong reaction to the Fed Policy stance.

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