Price, volume and open interest analysis for March 30, 2015
For Bloomberg access:{OIAR<GO>}
Soybeans:
May soybeans gained 0.50 cents on volume of 162,443 contract. Total open interest increased by 3,250 contracts, which relative to volume is approximately 20% below average. The May contract lost 3,186 of open interest. As this report is being compiled after the release of the USDA report May soybeans are trading 1.00 cent higher and have made a daily high 9.81 and a new low for the move of 9.51 1/4. Although we have not examined the results of the USDA report, the strength was supposed to be in corn, not soybeans. May soybeans remain on the short and intermediate term sell signal. Stand aside.
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