NEWS
Darin Newsom DTN Senior Analyst
Sat Aug 24, 2013 04:44 AM CDT

Weekly Nov Beans Anything But Weak

This past week was fascinating in November soybeans. If you look closely, very closely, at last week's price activity (top study) you will see the contract left a small bullish price gap between last week's high of $12.72 and this past week's low of $12.72 1/2. This actually occurred as last Sunday's CME Globex overnight session got under way, but received little notice.

As the week progressed, November beans seemed to gain bullish momentum. The weekly CFTC Commitments of Traders report indicates why. Noncommercial interests (investment traders, speculators, funds, etc.) increased their net-long futures ...

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