Short covering up the market, CBOT soybean futures market closed down on July 22; industry believes that the market does not have substantial positive external disk weakening of the domestic fundamentals are bearish outlook, and the reservoir pressure faced cast, with soybean up may not be sustainable, is expected to continue to short-term market volatility mainly concerned about the situation of 23 soybean auction.
7 22, August soybeans closed 1,018.5 cents, up 4 cents; November soybeans opened 905.75 cents to 914.25 cents a high point, low 897.5 cents to close at 908 cents, up 3 cents .
11 CBOT soybean contract lows this week, not below, this more or less to encourage the market long popularity prompted some short covering at the end positions.
The past 24 hours, the U.S. corn belt of scattered showers and thunderstorms weather forecast is broadly true, especially in the eastern corn belt, the temperature expected to continue to maintain the level of normal to low.
Market is worried about China's throw Reserve. Thursday (July 23), the Chinese government will auction 500,000 tons in the northeast region of soybean reserves. Traders believe that the government set a starting price than the current spot price higher ground.
In addition, traders will pay close attention to the U.S. Department of Agriculture Thursday the week prior to the export drive Sell Reported data, import demand from China's new market or boost buying sentiment. China Soybean Futures Market
Wednesday closed higher Thursday as expectations the government will not reduce the State Reserve auction starting price of soybeans, traders ahead of the establishment of more than one position.
Technical level, the November soybean contract was still in the 5-week downtrend channel. Target under the contract on the file location is expected to 975 cents / Po, pull-back in place next target is expected to 881.25 cents / Po.
Central Plains futures analysts believe that short-term to maintain the shock Soybean order. 1005 Soybean technology shock rebound in Yang Xian not only cover the front above the inflection point upward gap and break through 3,540 locations, technically described as "strong." But the current bullish fundamentals seem unable to find Soybean rose ground, chase should be careful, early and more single continue to hold, stop 3,530. Soybean meal finishing low volatility, prices are on average going into the system and the average level, it is recommended watching. 21 Bean oil 1001 suppression of turbulence by the downward trend line callback, 22 relay Cross reported income, continuation of a weak single bidder, more than one opportunity to continue to wait for admission. Li Datong Futures analyst
ink over that shock Soybean market outlook will continue the pattern of range. From a technical point of view, 22 Soybean market Dikaigaozou, heavy volume up. Long sustained buying interest disk release, the market gained sufficient momentum, from the full-term chart patterns, moving average systems tend to bond, K line up breakdown 20,60 consecutive day MA and 30 MA to further test the anti-pressure, vibration pattern of market outlook range fear will continue. I am Mp3 Player Manufacturers writer, reports some information about restaurant cloth napkins , damask table cloths.
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