Soybeans

Just a few thoughts/reasons  about soybean rally. Rolling out of November into January as First notice day is Monday.Continued strong export demand  . This demand is so strong that it was mentioned as the main reason  for the increase in US exports in the just released GDP report.Soymeal  has been  higher this week as well due to  Unwinds of meal/Oil spreads .As soy meal goes so does beans.Also anytime soymeal makes a decent move some issue in  South america has to be cited.Argentine weather may be issue for Soybean crop.Lastly prices traded above the 100 D MA for first time since July and this provided a little extra umphh to prices earlier this week.Soybeans +10% over last 2 weeks.

Just a reminder  that next week we will see FOMC ,Bank of England,Bank of Japan  and employment report.Today  shaping up to be a low volatility sideways trade.

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