# Soybean Tech Update - September 15, 2020 - The Andersons Trade Group

> Soybean futures closed lower for only the second time in 15 sessions as harvest pressure and rain forecasts for Brazil curbed gains. Nov futures had risen $1.45 since mid-August and hit new contract highs, with funds net long near 200k contracts.

- Date: 2020-09-15 · published 2020-09-15T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/9337-soybean-tech-update-september-15-2020-the-andersons-trade-group
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Routine chart commentary on an overbought soy market; no new supply or demand shock, though fund length raises the risk of a correction.

## Read by commodity

- SOY: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2020-09-14 | 1 | -2.7% | -3.9 | Reports of harvest pressure and Brazil rain forecasts curbing gains describe the selling dynamics around the drop, though the report is dated a day after the move. |

## Sources

- andersonsgrain.com: https://www.andersonsgrain.com/market-commentary/market-news/tech-update/2020/sep-15/

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