For information about RNS reach and News Announcements, the news sources available within the Market news section. Beans did sell off on the data however as the market has already priced this in due to the huge rally off the lows that we have been seeing which began back in October. However, what USDA did do was to lower the total global carryover from 90.28 million metric tons to 89.9 million. That would be friendly as well on the surface but the trade was expecting a smaller S. American crop as thus a smaller number on that global carryover than USDA gave it.
Also today, and I think it is significant, the Brazilian equivalent of our USDA released some data which has somehow managed to get completely lost in all the hoopla surrounding the USDA numbers. Futures trading in particular is fraught with peril due to extreme market volatility. Those positions may and will more than likely be subject to rapid change due to ever changing market conditions.
If the trade really comes to grips with this ( and it needs to be kept in mind that it is still very early in the growing season down there and we have to deal with weather for a while longer ), this CONAB number implies a greater global carryover than today’s USDA report suggests. He is a frequent contributor to both Reuters and Dow Jones as a market analyst for the livestock sector and can be on occasion be found as a source in the Wall Street Journal’s commodities section as well as CBS Marketwatch where his views on the gold market can often be found.
Trader Dan Norcini or Dan Norcini may, at times have positions in the securities or investments or futures markets referred to at this site, and may make purchases or sales of these securities, investments or futures contracts while this site is live. Make sure you get your ticket holders to let you know a week before the bout how many they have left so you kinda know how many to expect at the door. We send out an event reminder to the list a month before the event and then re email it a week before.
Get to know the reporters cause even if you can’t get in the actual news you may be able to get on their blogs or their tweets. Don’t stop at the radio stations you listen to. We hit up the Top 40, Hip Hop, Country, Sports, Talk Radio, all of them. Make sure whoever you send in to do the radio or tv or newspaper interviews are well versed, know all the information and have a script to follow.