Looking for bounce next
Markets will probably be quiet until January 1, don't you think? Unless we see some farmer-selling to hide tax problems, it could be a calm end to the year. Al Kluis, Kluis Commodities, wrote in a daily note to customer, "I'm watching to see if November 2014 soybean futures can get a close above the resistance level of $11.77."
Merry Christmas to everyone,
--USDA announces Tuesday that an 'unknown' buyer and Egypt bought a total of 299,000 tons of U.S. soybeans for 2014-15 delivery.
Will this set up more purchases before the end of the year? What do you think?