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A technical chart analysis of CBoT soybean meal for calendar week 7 says prices broke out of a downward escalation and formed a triangular pattern. Support at $305 per short ton has held.
The note is a routine chart commentary with no new fundamental cause.
The breakout and held support are technical signals that may attract short-term trading interest, but they do not change supply or demand fundamentals. Feed buyers should view it as routine price commentary.
zmp.deFeb 14, 2019Not 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.
