FARM BUSINESS NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Fri Nov 22, 2013 03:49 PM CST

Soybeans are bullish. That should be enough to set the market on a long-term uptrend, but as anyone who has watched knows, it hasn't been. Contracts continue to fluctuate between bullish and bearish, rallying only to fall again, all while the last major (long-term) technical signal and 2013-2014 forward curve (series of futures spreads reflecting the long-term commercial outlook) remain bullish.

That is until this week. A look at the weekly chart for the January contract shows another bullish outside week, confirming the previous bullish reversal established the week of November 3 (note that the low of this pattern, $12.47, ...

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