MARKETS NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Mon Oct 28, 2013 02:03 PM CDT

Despite continued bullish long-term commercial outlook, as indicated by the inverse in the Jan to March soybean futures spread (bottom study, green line), the January soybean contract was punched in the gut Monday, closing within striking distance of key technical price support.

The sell-off of about 25 cents left the contract in position to test its recent lows of $12.65 1/2 and $12.61 1/4, both near technical support at $12.59 1/2. This price marks the 61.8% retracement level of the previous uptrend from $11.69 through the high of $14.06. The 67% retracement level (not shown) is calculated near $12.48

Take ...

Quick View
  • Xtend Moves Forward USDA has issued its final environmental impact statement recommending full deregulation of Monsan...
  • Land Market What could the next year hold for land values?
  • No Agreement on Tax Extenders White House spokesman Josh Earnest on Monday said in his daily briefing that the White House woul...
  • Senior Partners - 4 At-your-service consultants help you walk through estate planning from start to finish.
  • Dow's Gutsy Decision Dow's decision to launch Enlist offers some hand-selected growers a chance to test drive new tech...
  • Congress Reaches Funding Deal The overall Agriculture Department and related agencies bill would cost $20.5 billion for fiscal ...
  • Need To Bee Accurate A news story had the wires buzzing Tuesday afternoon after a report that EPA was set to restrict ...
  • Kub's Den The Dakotas lost more than $130 million in grain revenue during the 2013-14 marketing year compar...
  • Ask the Vet What can I do to improve udder quality in my herd?
Related News Stories
DTN Technically Speaking Blog
DTN's Quick Takes
DTN Closing Grain Comments
DTN Midday Livestock Comments
Shaw: Under the Agridome
DTN Midday Grain Comments
Informa Sees Beans Acres Gaining
DTN Before The Bell Grain Comments
Newsom on the Market
DTN Early Word Opening Livestock