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SOYB

Soybeans Break Below Support Soybeans (July) Technicals: July soybean futures got hit hard last night and remain under pressure in the early morning trade. 4-star support from 1644 ¾-1650 looked as though it would hold into options expiration, with yesterday’s low coming in at 1647 ½. Those hopes evaporated quickly last night as the breakdown below support accelerated the selling, taking us down near our next support level, 1613 ¾. This level down to $16.00 is trendline support from February. The overnight low is 1610 ½. Previous support is now resistance, that comes in from 1644 ¾-1650. Bias: Neutral/Bearish Previous Session Bias: Neutral/Bearish Resistance: 1673-1679 ½***, 1700 ½-1702**, 1720-1728*** Pivot: 1644 ¾-1650 Support: 1613 ¾**, 1600**, 1578-1580 ½*** Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CBOT:ZSN2022
by OliverSloup_BlueLine
Soybeans Under Pressure Soybeans Technicals: Soybeans broke lower yesterday, trading right into our 3-star support pocket, 1673-1679 ½. The Bulls have been unable to defend that pocket in the overnight/early morning trade which could take us to our next and more significant support pocket, 1644 ¾-1650. This pocket represents previously important price points and the 100-day moving average. Previous support will now act as our pivot pocket that the Bulls want to get back out above to neutralize the technical damage, that is the pocket mentioned earlier, 1673-1679 ½. Bias: Neutral/Bearish Previous Session Bias: Neutral/Bearish Resistance: 1700 ½-1702**, 1720-1728*** Pivot: 1673-1679 ½ Support: 1644 ¾-1650****, 1613 ¾** Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CBOT:ZSN2022
by OliverSloup_BlueLine
2
Soybean Futures Pullback Soybeans Commitments of Traders Update: Friday’s CoT report showed Managed Money were net buyers of 4,217 futures/options through June 14th. This expands their net long to 163,146. Broken down that is 174,546 longs VS 11,400 shorts. Technicals: Soybeans are sharply lower to start the week, trading right near the 50-day oving average at the morning intermission, 1680 ¾. The market was lower than this earlier in morning, testing and holding our 3-stary support pocket, 1673-1679 ½. If the Bulls fail to defend this pocket on a closing basis, the 100-day moving average cannot be ruled out. That comes in at 1644 ¾. Bias: Neutral/Bearish Previous Session Bias: Neutral/Bearish Resistance: 1720-1728***, 1757 ½-1760**, 1775 ½-1784** Pivot: 1710 Support: 1673-1679 ½***, 1644 ¾-1650**** Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CBOT:ZSN2022
by OliverSloup_BlueLine
Will Soybeans Stall Out Against Technical Resistance? Soybeans Fundamentals: This morning’s weekly export sales report showed net sales of 317,200 MT for 2021/2022 were down 26 percent from the previous week and 16 percent from the prior 4-week average. Net sales of 407,600 MT were reported for 2022/2023. Technicals: Soybeans are firm in the early morning trade, retracing the losses from the previous two sessions. Previous support is now resistance, the significant pocket comes in from 1720-1728. A breakout and close back above here could spark a run higher with new contract highs on the table. From the risk/reward perspective, this wouldn’t be a bad pocket for hedgers to consider selling. Bias: Neutral/Bearish Previous Session Bias: Neutral/Bearish Resistance: 1720-1728***, 1757 ½-1760**, 1775 ½-1784** Pivot: 1710 Support: 1690**, 1673-1679 ½*** Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CBOT:ZSN2022
by OliverSloup_BlueLine
Soybeans Struggle to Hold Support Soybeans Technicals: July soybean futures broke and close below trendline support yesterday which opened the door for additional weakness in the overnight session. Futures have recovered some and trading near unchanged. Previous support is now resistance, we see that first hurdle coming in near 1710. On the support side of things, the 50-day moving average and low end of the range come in near 1675. If that support gives way, we could see the selling accelerate. Bias: Neutral/Bearish Previous Session Bias: Neutral/Bearish Resistance: 1720-1728***, 1757 ½-1760**, 1775 ½-1784** Pivot: 1710 Support: 1690**, 1673-1679 ½*** Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CBOT:ZSN2022
by OliverSloup_BlueLine
Daily Soybean Market Update (6.14.22)Soybeans Fundamentals: Yesterday's weekly crop progress report showed the U.S. soybean crop is 88% planted, 70% emerged, and a Good/Excellent rating of 70%. There were no major surprises here. Yesterday's weekly export inspections report came in at 605,129 metric tons, well above the 365,455 last week and 141,320 we saw in the same week last year. Technicals: Soybean futures broke through support from 1720-1728, this will now act as resistance. A close back above here opens the door for a potential run back at the contract highs and above. There is some trendline support from May 17th-June 7th that is holding well over the past 24 hours. A break and close below here could spark a drop back below $17.00. Bias: Neutral/Bearish Previous Session Bias: Neutral/Bearish Resistance: 1757 ½-1760**, 1775 ½-1784** Pivot: 1720-1728 Support: 1690**, 1673-1679 ½*** Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CBOT:ZSN2022
by OliverSloup_BlueLine
Soybeans Under Pressure to Start the WeekFundamentals: Soybeans are under pressure to start the week, along with many other commodities and markets as last week's outside market turmoil has poured into this week's trade. This afternoon's Crop Progress report is expected to show the U.S. soybean crop near 90% planted. Good/Excellent conditions are expected to come in near 70%. Last year at this time the crop was rated 62% G/E. Commitments of Traders Update: Friday’s CoT report showed Managed Money were net sellers of 6,505 futures/options contracts, through June 7th. This shrinks their net long position to 153,654. Broken down, that is 168,458 longs VS 14,804 shorts. Technicals (July): July soybeans were weaker to round out the week, which gave back just a portion of the sharp rally that we saw on Thursday. 1750 is our pivot pocket, a close above or below here could set the tone for the next 25 cent move. On the resistance side, 1775-1784 is the objective for Bulls. A breakout above there puts the market back in uncharted territory which makes in extremely difficult to find high conviction resistance levels. $16.00 would be the next psychological barrier. On the support side of things, 1720-1728 is the pocket the Bulls want to defend. This pocket was previously resistance and will now act as support. If that gives way, it could spark long liquidation back below $17.00. Bias: Neutral/Bearish Previous Session Bias: Neutral Resistance: 1757 ½-1760**, 1775 ½-1784** Pivot: 1750 Support: 1720-1728***, 1690**, 1673-1679 ½*** Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CBOT:ZSN2022
by OliverSloup_BlueLine
$SOYB / $ZS_F: Weekly and monthly trends are upSoybeans have been consolidating and shorts have been hitting the same level near the invasion day highs for 3 months give or take, today price broke out and confirmed a weekly trend signal. The monthly timeframe indicates beans can rally until October 2022, so, getting lower timeframes to turn bullish again presents us with a massive reward to risk long opportunity here. I bot July futures / $SOYB calls today, aiming to capture the move shown in the continuous chart here. If you want you can join the trade when beans futures open tonight, keep in mind you will need to roll the position to the next contract month 8 calendar days before the expiration date give or take (you'll see volume is high on that day), or, to make it simpler, buy the Nov 18 $31 strike $SOYB calls. If you buy futures, calculate risking a drop under last week's low, if you buy options, calculate risking 1-5% of your capital in call premium. Over time we might be able to bet on higher strikes as well, or trade around the position in shorter term timeframes (often good to delta hedge calls with 15m setups on the short side if you're good at scalping, then use proceeds to add to the call position for increased exposure without increasing risk). Best of luck! Cheers, Ivan Labrie.
CBOT:ZS1!Long
by IvanLabrie
1
Soybean Technical Update (6.8.22)Soybeans (July) Technicals: July soybean futures were able to defend trendline support in the prior two sessions which helped spark a rally in yesterday’s trade. That rally has led to follow-through buying in the overnight/early morning trade with July futures making new contract highs. The market has been up here a few times in the past few weeks but failed to find more buyers. Time will tell if this time is different. With the market at new contract highs, the task of finding the next meaningful resistance point becomes more difficult. Going off the continuous chart you could use the February 24th high for the March contract, 1759 ¼ and the April 22nd high from the May contract, 1757 ½. Finding meaningful points above that is a game of pin the tail on the donkey. Bias: Neutral Previous Session Bias: Neutral Resistance: 1757 ½-1760** Pivot: 1750 Support: 1717-1720***, 1690**, 1673-1679 ½***
CBOT:ZS1!
by OliverSloup_BlueLine
Soybeans ripped! Approaching monthly resistanceTook profits on my SOYB position for some nice gains considering a lot of downside in the equities market. On a monthly time frame, SOYB is approaching resistance zone so I took profits and will be watching to see how price reacts here. I'm expecting retracement / consolidation here before continuation to the upside or back down from profit takers and sellers stepping in. Alert set at $26.5 May also be setting up for a good short opportunity
AMEX:SOYB
by FriscoTrades
TBT - Next Big Mover?Without too much noise, interest rates appear to be creeping up. In comparing with other trading instruments I watch, it appears to have the biggest potential for a move. As the rising rates indicate an increase in inflation, I've also had my eyes on a few commodities. Inflation has too long been downplayed but we all know the reality of inflation because we are exposed to the reality, not the engineered inflation figures that show there is none. Soybeans have looked interesting (SOYB). Also watching DBA for a broader commodity play. Oil as well. Started taking positions in some like XOM. Could be testing a long term low. Politically, the oil industry appears toxic but such fears often prove to be great buying opportunities. I'm taking some shots here across the inflation spectrum.
AMEX:TBTLong
by Glewis54
1