FeedDinner 2018

DOW JONES NEWSWIRES

NOVEMBER SOYBEANS

November soybeans on Monday closed higher and near the session high. Bulls have gained some fresh upside technical momentum recently and 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 last week's high of $13.55 and then at $13.65. First support is seen at Monday's low of $13.38 and then at $13.26.

$15.38     -- the contract high

$13.36 1/2 -- 10-day moving average

$13.57     -- 20-day moving average

$13.47 3/4 -- 40-day moving average

$8.19 3/4 -- the contract low

DECEMBER SOYBEAN MEAL

December soybean meal on Monday closed higher and near the session high. The bulls have the overall near-term technical advantage and have regained some upside momentum recently. 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 last week's low of $341.30. First resistance comes in at $360.00 and then at last week's high of $361.90. First support is seen at Monday's low of $353.30 and then at $350.00.

$371.50 -- contract high

$353.40 -- 10-day moving average

$359.20 -- 20-day moving average

$353.10 -- 40-day moving average

$247.00 -- the contract low

DECEMBER SOYBEAN OIL

December bean oil on Monday closed higher and nearer the session high. Bears still have the slight 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 56.00 cents. Bean oil bears' next downside technical price breakout objective is pushing and closing prices below solid technical support at last week's low of 53.10 cents. First resistance is seen at Monday' high of 55.69 cents and then at 56.00 cents. First support is seen at Monday's low of 54.87 cents and then at 54.50 cents.

61.45 -- the contract high

55.27 -- 10-day moving average

56.22 -- 20-day moving average

56.68 -- 40-day moving average

38.49 -- the contract low

FeedDinner 2018