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EC SD | It looks like the long slow slide in soybean prices is finding a bottom. At least if the price gets above $10.70, it will likely break out higher to the $11 to $12 range. The weekly-nearby chart shows we are back above the 50 week moving average and that 200 week moving average is way up there at $12.78...
I know, I know, the USDA says the soybean yield will be huuuge! Hmmm... It seems so silly to me to make that prediction without knowing anything about the August weather. It is turning out to be much dryer than normal, for many key growing areas, and much too wet in others, but who cares I guess... August weather just doesn't matter to their statisticians, who probably can't even recognize a soybean plant. A record yield it shall be according to their "figuring". I really wish they would just give up on forecasting the future, and just report the facts of the present and past.
Attached is the chart (hopefully will upload). Check out the MACD getting ready to cross over and go above the zero line too! Just a little more positive price action, and that will happen at the same time price breaks above the range of the last few months. Wow -- could be a serious rally into harvest.
Edited by FW30 8/22/2025 20:38
 (Soybeans Chart (full).jpg)
Attachments
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 Soybeans Chart (full).jpg (69KB - 6 downloads)
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Soybeans Chart
