The Crowley Report 12/14/14

The Crowley Report 12/14/14Beans closed a two-sided day with gains of around 5 cents to end the week. Expiring Dec 14 meal took a complete nose-dive, other months were mixed. For the week Jan 15 beans added 11 1/4 cents, with Dec 14 meal down $15.30 and Dec 14 oil 4 points lower. The Argentine Ag Ministry said that farmers there have 71.94% of their 2013/14 soybean crop sold versus 80.39% a year ago. You will recall that the National Bank of Argentina, the country's top agricultural lender, recently said that it will stop extending credit to, and possibly even close the accounts of, farmers who cannot prove that they have sold all of their old crop inventory come Jan 1st. FSA reported [more]

The Crowley Report 12/01/14

The Crowley Report 12/01/14Fundamentally, we had some serious outside market influences other than just the run of the mill supply and demand. We had a December U.S. dollar index futures close up about 79 cents, a December gold market that fell about $30/ounce, a January RBOB unleaded gasoline market that closed almost 20 cents/gallon lower, and a January crude oil market that close down almost $8/barrel all in one day. So much for holiday trading. Beans got trashed to the tune of 33 cents and may have completed the head and shoulder pattern the charts offered. A break of the 10.00-10.10 area would lead to 9.40. I will have the soybean charts in my next report. With meal sales showing negative numbers and end users canceling their double bought [more]

The Crowley Report 11/24/14

The Crowley Report 11/24/14 Beans and meal closed with gains to end the week. It was an emotionally charged session on Friday with China’s surprise cut in interest rates rallying beans early, while the announcement from the EPA mid-morning that they were delaying a decision on the 2014 renewable fuel mandate to next year rolled the market over and saw it falling into the red. Beans and meal ultimately closed near the session highs. For the week Jan 15 beans were up 16 1/2 cents, with Dec 14 meal down $1.50 and Dec 14 oil up 49 points. Chinese demand for beans has eased from its torrid pace, but they still booked 2 cargoes for Dec from the gulf. Basis was up 5 cents on Friday [more]

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