# July Soybean Meal: Long Liquidation May Be Nearing End

> July soybean meal futures have fallen nearly $60 per ton since March 7 and closed lower for seven straight sessions. The analyst says funds have likely liquidated most of their net-long positions and momentum indicators are oversold.

- Date: 2023-04-27 · published 2023-04-27T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/36487-july-soybean-meal-long-liquidation-may-be-nearing-end
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Analyst sees support at $415-423 and a possible rebound as Argentine crop losses and low US ending stocks support meal, though the price direction is currently bearish.

## Read by commodity

- SBM: neutral

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/Ag/blogs/technically-speaking/blog-post/2023/04/27/july-soybean-meal-long-liquidation

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.