FeedDinner 2018

JANUARY SOYBEANS -- combined pit and electronic trading

January soybeans posted a narrow inside day, but closed lower Friday as the market gave back about one third of Thursday's gains. The near term technical trend remains bearish. A series of lower lows and lower highs is evident on the daily chart. In order to break the downtrend, the bulls would need to rally through initial resistance at $12.31 1/2 and then a more important area at $12.52 1/2. Support lies at $12.07 1/2 and then $11.90.

$15.50 1/2 -- the contract high

$12.22 3/4 -- the 10-day moving average

$12.32 3/4-- the 20-day moving average

$12.57 -- the 40-day moving average

$8.19 3/4 -- the contract low

DECEMBER SOYBEAN MEAL -- combined pit and electronic trading

Soybean meal posted an inside day Friday. Initial resistance lies at $317.60. If that falls, next ceiling is seen at $324.80. On the downside, support comes in at $310.10/309.50.

$390.40 -- the contract high

$316.90-- the 10-day moving average

$318.90 -- the 20-day moving average

$325.50 -- the 40-day moving average

$236.70 -- the contract low

DECEMBER SOYBEAN OIL -- combined pit and electronic trading.

Resistance comes in at 52.50. If that cracks, next target lies at 52.99. Support is at 51.32 and then 49.95.

61.45 -- the contract high

51.48 -- the 10-day moving average

51.73-- the 20-day moving average

52.49 -- the 40-day moving average

32.24 -- the contract low

FeedDinner 2018