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Bower Trading Market Strategy Report: A Better Outlook for Soybeans

Bower Trading Market Strategy Report: A Better Outlook for Soybeans

Last week saw the corn market remain in its trading range. Doug Werling, with Bower Trading, says that will likely continue this week as harvest continues to lag behind, “The corn market is holding its own in a very tight and narrow range. It is impressive that it is holding up as well as is has given the higher than expected corn yields.” He says this shows there is good corn demand under the market.

With the soybean harvest nearly complete, Werling sees the bean market getting more active, “You are going to get to the point this week where the hedge pressure is going to lift. Export numbers at the end of last week were very good.” He said, in the market, there is beginning to grow the sentiment that soybean prices will move higher.

There are soybean futures above $10 for 2018. Bower Trading believes there is still more upside potential on new crop soybeans, “I would advise being cautious about being an aggressive seller of 2018 soybeans. I feel they are going to get a lot better and give guys more options.” Unlike some reports last week that predicted higher soybean acres in 2018, Bower Trading feels midwestern producers will still plant more corn.

For more market strategy information, contact Bower Trading at 800-533-8045 or bowertrading.com.

 

This material has been prepared by a sales or trading employee or agent of Bower Trading Inc and is, or is in the nature of, a solicitation. This material is not a research report prepared by Bower Trading Inc. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions.
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The risk of loss in trading futures and/or options is substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance, whether actual or indicated by simulated historical tests of strategies, is not indicative of future results. Trading advice is based on information taken from trades and statistical services and other sources that Bower Trading Inc believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades.

 

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