MARKETS NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Tue Dec 3, 2013 08:43 AM CST

While the major (long-term) and secondary (intermediate-term) trends in soybeans remain up on the monthly and weekly charts respectively, the daily chart for the January contract is showing the minor (short-term) trend has turned down. This isn't an overly surprising development, given recent market signals.

First, the contract was testing technical resistance between $13.26 1/2 and $13.45 1/4, prices that mark the 50% and 61.8% retracement levels of the previous downtrend from $14.06 (high from August 27, 2013) through the low of $12.47 (November 5, 2013). At the same time, daily stochastics (bottom study) crept back above the overbought level ...

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's Quick Takes
DTN Technically Speaking Blog
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