Soybean Meal - the void belowZMZ2014 - Soybean Meal triangle pattern ready to breakout to the downside. I was in doubt after the false breakout on the 12Aug14 but the down pressure is resuming and will probably continue. No support below 340.0. Shortby LEONES220
Soybean Meal toppingGrains are getting weaker but bean complex seems not giving up yet. Soybean meal contract (ZMN) is probably forming a top. Price bounced back for five consecutive days from 477.0 creating a nice floor. A trade below 477.0 will brake the support projecting price towards the next level and bear 1/2 Gann line. Not a seasonal trade but price are almost at historical highs. A trade higher above 494.0 would negate this study.Shortby LEONES330
Healthly Bean MealSoybean Meal essentially double topped between Sept and Dec 2013. Now trading below the 20EMA. The next move will be towards the down sloping median line. Watch out that trendline. Major lows a typically posted in February in the beans. Weakness across the grains.Shortby LEONES220