Wheat Markets Oversold; Soybeans, Meal Overbought
Minneapolis wheat futures likely overdone to the downside, due for a bounce.
Source: dtnpf.com
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Top News In Technically Speaking Today - Breaking & Trending Today
Is A Homebuilders Stock Trade Brewing? NAIL ETF & Double Doji
The Daily Homebuilders & Supplies Bull 3X Shares (NAIL) ETF hit new highs on December 2nd after breaking through resistance set in May.
Source: etftrends.com
March Soybeans May Be Getting Overdone in the Short Term
March soybeans, since breaking out of a symmetrical triangle chart formation, are on an eight-day winning streak and headed for a ninth. March futures have rallied $1.14 per bushel from the low just eight days ago. Although the extent of this rally is likely dependent on South American weather, momentum indicators may be flashing warning signs.
Source: dtnpf.com
Changing of the Guard in the Soy Complex
Ever since July of 2020, soybean oil prices have been the stronger performing of the two soy products. Recently, that changed and now soybean meal is the new price leader.
Source: dtnpf.com
A Conflicting Time for Soybeans
Here in the U.S., soybean prices may be finding support, but that is not how soybean prices look in China.
Source: dtnpf.com