1. Friday’s (Nov. 28) Jan. soybean session reversed powerfully and closed the day below $10.21, placing Jan. soybeans in the weaker position and giving the earliest indication for continued decline and test/attempt at $9.97/$96 (or lower) into early next week (week of Dec. 1).
2. Will message any new entry based upon the above in tomorrow’s (Mon., Dec. 1) session.
1. Our Sun., Nov. 30 report indicated that Jan. soybeans closed on Fri., Nov. 28 below $10.21, placing soybeans in a weaker position and indicating a further decline and test/attempt at $9.97/$96 (or lower) into early this week (week of Dec. 1).
2. Although no official short entry occurred, today’s (Tues., Dec. 2) Jan. soybean session declined sharply and completed the $9.97/$96 downside target (today’s session low, $9.95). Will message any further entry or indication in Jan. soybeans.