MARKETS NEWS
Darin Newsom DTN Senior Analyst
Fri Nov 15, 2013 03:32 PM CST

Bearish Follow-Through in Jan Beans

Thursday's blogged post talked about the fine line between bullish and bearish January soybeans were faced with on the close. A settlement below the previous day's price would be bearish, while a close above the previous day would be bullish. As I noted in the comments, the contract closed below Wednesday's price of $13.15, setting the stage for minor (short-term) downtrend.

And as things turned out Friday, the contract wasted little time in following through on Thursday's bearish technical signal. The contract leaked lower throughout the day, gaining momentum late in the session, falling 33 ...

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