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Analyst Scott Capinegro of HighGround Trading says soybean futures look technically bearish after shedding two cents in the week to Wednesday, while corn remains in a trading range. Soy oil had been supported by EPA's increased biodiesel mandate, and dry conditions in Argentina added support.
Favorable Brazilian planting could pressure U.S. prices.
Expected favorable Brazilian weather and possible trade friction with China under the incoming Trump administration create downside risk for soybean prices. Soy meal and oil remain supported by biofuel demand.
manitobacooperator.caGFM Network News, Jade MarkusNov 30, 2016Not enough comparable past events yet for a historical read.
Not 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.
