MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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(F4) Bearish Outlook

SOY TECHS
  • RES 4: $1441.00 - High Jul 24 and bull trigger
  • RES 2: $1420.00 - High Aug 28
  • RES 1: $1383.00 - High Sep 15
  • RES 1: $1338.75 - High Sep 20
  • PRICE: $1308.00 @ 13:44 BST Oct 24
  • SUP 1: $1265.75 - Low Jun 28
  • SUP 2: $1255.94 - 61.8% retracement of the May 31 - Jul 24 bull leg
  • SUP 3: $1212.19 - 76.4% retracement of the May 31 - Jul 24 bull leg
  • SUP 4: $1176.25 - Low Jun 8

Soybean futures remain above $1270.25, the Oct 11 / 12 low. Recent gains are considered corrective and the trend condition is bearish. Price has recently breached former support at $1292.50, the Aug 8 low, and sights are on $1265.75, the Jun 28 low. A clear break and a close below this level would strengthen the case for bears and open $1212.19, a Fibonacci retracement point. Initial resistance is at $1338.75, the Sep 20 high.

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