Price, volume and open interest analysis for April 29, 2015

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Soybeans:

July soybeans advanced 10.75 cents on unimpressive volume of 235,313 contracts. Volume shrank dramatically from April 28 when July soybeans gained 4.25 cents on volume of 340,242 contracts and total open interest declined by 14,602. On April 29, open interest declined again, this time by a massive 16,251 contracts, which relative to volume is approximately 170% above average meaning liquidation was extremely heavy on the advance. The May contract lost 19,313 of open interest, which means there was very little in the way of new open interest increases in the forward months.

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Price, volume and open interest analysis for April 27, 2015

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Soybeans:

July soybeans gained 2.25 cents on volume of 227,668 contracts. Total open interest declined by 1513 contracts, which relative to volume is approximately 65% less than average. The May contract lost 14,823 of open interest, and there were sufficient open interest increases in the forward month to reduce total open interest substantially  below average.We consider the open interest action on April 27 as constructive.

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Weekend Wrap for April 26, 2015

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The time frame for the current Commitments of Traders report is from Wednesday, April 15 through Tuesday, April 21.

Soybeans:

For the week, May soybeans advanced 1.00 cents, July -0.75, new crop November -0.25. The COT report revealed that managed money added 5,982 to their long positions and liquidated 23,164 contracts of their short positions. Commercial interest liquidated 34,983 contracts of their long positions and also liquidated 10,947 of their short positions. As of the latest report, managed money is short soybeans by ratio of 1.36:1, which is down sharply from the previous week of 1.81:1 (the high short ratio thus far in the bear market), but up slightly from the ratio of two weeks ago of 1.32:1.

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Price, volume and open interest analysis for April 22, 2015

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The weak dollar index is giving a bid to many commodity markets on April 23, and the S&P 500 E mini is making new all-time highs.

Soybeans:

July soybeans lost 5.00 cents on volume of 251,545 contracts. Total open interest declined by 12,678 contracts, which relative to volume is approximately 100% above average meaning liquidation was extremely heavy on yesterday’s decline. The May contract lost 18,030 of open interest.

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Price, volume and open interest analysis for April 20, 2015

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Soybeans:

July soybeans gained 8.00 cents on volume of 260,289 contracts. Total open interest declined by 10,665 contracts, which relative to volume is approximately 55% above average meaning that liquidation was heavy on yesterday’s advance. This is bearish open interest action relative to yesterday’s advance The May contract lost 21,791 of open interest and there were insufficient increases in the forward months to significantly reduce total open interest.

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