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Barchart columnist Jim Wyckoff says July soybean meal futures are in an up-trending channel and presents a buying opportunity above $324 resistance, with a $342 objective and $317 support. He cites strong US soybean crush and spread traders unwinding long soybean oil/short meal positions as supportive for meal prices.
Strong crush output adds meal supply, but spread unwinding and firm crush demand point to upward pressure on meal prices for feed buyers. Technical levels suggest near-term upside if resistance breaks.
barchart.comJim WyckoffApr 27, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
