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November soybean futures remain in a persistent downtrend dating to mid-June, with resistance near the 100-day average around $8.89 3/4. Soymeal shows a similar major downtrend since late May, though its rate of decline has slowed much more than soybeans.
The analyst expects selling into rallies while the trend holds.
The technical view points to continued weakness in soybeans and soymeal unless prices break above key corrective highs. This is routine chart commentary with no new fundamental cause.
dtnpf.comTregg Cronin DTN Contributing AnalystSep 3, 2019Not 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.
