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FxWirePro: Soybeans rise on trade sentiment; likely to tests 1000 cents

Soybeans on the rise; is China plating a hand?

Chinese pledge energizes bulls:

  • Last week’s commitment from Chinese Vice Premier that it would buy Soybeans in bulk from U.S. farmers to the tune of 5 million tons has given the latest boost to bulls, https://www.youtube.com/watch?v=Z1P-BUEaH3U

Price forecast:

  • We maintain our short-term bullish outlook and expect the price to test 1000 cents per bushel area and might even break and reach as high as 1030 cents area, before selling pressure sets in.
  • ET PRO
  • Market Data

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May 24 19:00 UTC Released

USCattle Marketed

Actual

106.9 %

Forecast

106.6 %

Previous

97 %

May 24 19:00 UTC Released

USCattle Placed On Fd

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108.7 %

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113 %

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105 %

January 31 00:00 UTC 692593692593m

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January 31 00:00 UTC 692593692593m

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January 22 19:00 UTC 704413704413m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 692593692593m

ARAnnual Primary Balance*

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2016 bln ARS

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January 22 19:00 UTC 704413704413m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 692593692593m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 692593692593m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 692593692593m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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