Grains Continue Higher in the Overnight

October 22, 2014 | Grain Hedge Insights | Cody Bills

EXPORTERS SELL 419,000 TONNES U.S. SOYBEANS TO CHINA AND 113,000 T SOYBEANS TO UNKNOWN, ALL FOR 2014/15.

 

Soybeans surged another 12 cents higher in the overnight on very light news. A close above 972 ½ on the November 14 contract would be a strong technical signal that October’s price rally may have more gas in the tank. Bulls will point to strong export inspections and basis levels at the Gulf that have risen in the last 4 days for December delivered soybeans. The long term fundamentals of...

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