# Chart Book | Chart of the day: Building to a soybean burst | South China Morning Post

> Dalian soybean meal prices have begun to react to Argentine heat and drought, with the recent rally reaching its highest weekly close in a year. The technical analyst sees bullish momentum building despite overbought RSI readings and expects a burst higher toward 3,400 to 3,600 yuan per tonne.

- Date: 2018-03-07 · published 2018-03-07T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/66081-chart-book-chart-of-the-day-building-to-a-soybean-burst-south-china-morning-post
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Chart-based bullish outlook on Dalian meal reflects drought-driven supply concerns, implying further upside in Asian meal prices if momentum continues.

## Read by commodity

- SBM: bullish ▲

## Sources

- scmp.com: https://www.scmp.com/business/commodities/article/2136036/chart-day-building-soybean-burst

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