FeedDinner 2018

DOW JONES NEWSWIRES

NOVEMBER SOYBEANS

November soybeans on Friday closed lower, nearer the session high, hit a fresh four-week low and closed at a fresh weekly low close. Prices are also now in a three-week-old downtrend on the daily bar chart and the bulls are fading and need to show fresh power soon. Prices are also in a six-month-old sideways trading range at higher price levels on the daily bar chart.

Soybean bulls still have the overall near-term technical advantage. The next near-term upside technical breakout objective for the soybean bulls is pushing and closing November prices above major psychological resistance at $14.00 a bushel.

The next downside price breakout objective for the bears is pushing and closing prices below major psychological support at $13.00.

First resistance is seen at Friday's high of $13.45 and then at $13.50. First support is seen at Friday's low of $13.21 and then at $13.00.

$15.38 ------- the contract high

$13.66 3/4 --- 10-day moving average

$13.72 1/2 --- 20-day moving average

$13.53 3/4 --- 40-day moving average

$ 8.19 3/4 --- the contract low

DECEMBER SOYBEAN MEAL

December soybean meal on Friday closed lower, nearer the session low, hit a fresh three-week low and closed at a bearish weekly low close.

The bulls still have the overall near-term technical advantage, but are fading and need to show fresh power soon. The next upside price breakout objective for the bulls is to produce a close above solid technical resistance at the contract high of $371.50.

The next downside price breakout objective for the bears is pushing and closing prices below solid technical support at $350.00.

First resistance comes in at $355.00 and then at Friday's high of $358.00. First support is seen at $350.00 and then at $347.50.

$370.90 --- contract high

$361.30 --- 10-day moving average

$362.20 --- 20-day moving average

$354.10 --- 40-day moving average

$247.00 --- the contract low

DECEMBER SOYBEAN OIL

December bean oil on Friday closed weaker, nearer the session high, hit a fresh 4.5-month low and closed at a bearish weekly low close. Bulls have faded badly and bears the near-term technical advantage. Prices are in a choppy four-month-old downtrend on the daily bar chart.

The next upside price breakout objective for the bean oil bulls is pushing and closing prices above solid technical resistance at last week's high of 57.99 cents.

Bean oil bears' next downside technical price breakout objective is pushing and closing prices below solid technical support at the March low of 53.65 cents.

First resistance is seen at 56.00 cents and then at 56.50 cents. First support is seen at the June low of 55.48 cents and then at 55.00 cents.

61.45 --- the contract high

56.80 --- 10-day moving average

57.28 --- 20-day moving average

57.22 --- 40-day moving average

38.49 --- the contract low

FeedDinner 2018