FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(X2) Bullish Following This Week’s Range Breakout

SOY TECHS
  • RES 4: $1641.75 - 1.382 proj of the Apr 1 -22 - May 9 price swing
  • RES 3: $1620.25 - 1.236 proj of the Apr 1 -22 - May 9 price swing
  • RES 2: $1600.00 - Round number resistance
  • RES 1: $1585.50 - 1.00 proj of the Apr 1 -22 - May 9 price swing
  • PRICE: $1582.00 @ 13:35 BST Jun 10
  • SUP 1: $1529.69/1502.94 - 20- and 50-day EMA
  • SUP 2: $1438.25 - Low May 9 and key support
  • SUP 3: $1394.00 - Low Apr 1
  • SUP 4: $1351.50 - Low Jan 31

Soybean futures remain bullish. This week’s price action has resulted in a climb above resistance at 1555.00 - the Feb 24 high and the top of a broad range on the daily chart. The clear break has confirmed a resumption of the primary uptrend and has paved the way for gains towards $1585.50, a Fibonacci projection, and the $1600.00 handle. On the downside, key support is at $1438,25, May 9 low. The 20-day EMA at $1529.69 is first support.

Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.