Soybean Report, 01/25/2017

Wednesday, January 25, 2017

Slow night session bleeds lower with nothing to support it short term. OI is at a high for this timeframe in beans. Meal in second place and oil just missed joining beans. The whole complex added OI while volume was weak. Options were pretty active across the complex yesterday with nice OI gains. The money flow is weak at best right now. Technical traders want to see the market hold above 1045. Meal and oil both are more threatening to breaking support than pushing above resistance as we await the reopen. The market right now just feels tired. Basis saw a glimmer of life, but only like some moisture on a mirror type. The basis gains were mainly in the 1-3 cent better bid range at processors and along the river. Spreads indicate plenty of nearby supply and even the inverted N/X has relaxed to below 50 cents. Interesting though in NC spreads are minimal even with predictions of record or near record acreage. The S/C ratio is again at 2.62 which would indicate we are on track to keep those intentions. Look for a mostly lower day with a good chance to sell unchanged to slightly higher a time or two.

Unless otherwise noted, the posts on this blog should be construed as market commentary, merely observing economic, political and/or market conditions, and not intended to refer to any particular trading strategy, promotional element or quality of service provided by INTL FCStone Inc. or its subsidiaries. INTL FCStone Inc. is not responsible for any trading decisions taken by persons viewing this material. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. These materials represent the opinions and viewpoints of the author, and do not necessarily reflect the viewpoints and trading strategies employed by INTL FCStone Inc. or its subsidiaries. Reproduction without authorization is prohibited. All rights reserved.

Market Intelligence Free Trial

Meet the Team

Kansas City, MO
1251 NW Briarcliff Parkway
Suite 800
Kansas City, MO 64116
Tel:+1 (816) 410-5079



Our privacy policy has changed. View our privacy policy to learn more.