Price, volume and open interest analysis for October 5, 2015

For Bloomberg access:{OIAR<GO>}

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Volume and open interest analysis for March 13, 2013

Soybeans:

May soybeans lost 21.75 cents on volume of 196,754 contracts. Volume increased approximately 61,000 contracts from March 2 when soybeans lost 10.75 while open interest increased 3,123 contracts. On March 13, open interest declined 4,277, which in relation to volume is approximately 15% below average. Export sales reported by the USDA showed that 657.7 thousand tons were sold in the recent reporting period. This is dramatically above USDA projections for the current crop year and average weekly exports year to date. Commitments total 1.304 billion against the USDA projected commitments of 1.345.

Clients who acquired long positions in futures and options when short and intermediate term buy signals were generated, should be out of the market as of March 13. We recommended that sell stops be placed at the $14.50 level. As this report is being compiled, May soybeans have made a new low for the move at $14.29.  It appears that Chinese demand is waning for US exports and the window for increasing soybean exports is closing due to shipments from Brazil which should be increasing substantially in the coming months. Soybeans remain on a short and intermediate term buy signal. Stand aside.

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