rounded corner
rounded corner
top border

January Soybean Futures Update

Bookmark and Share
To receive a free 2 week trial of our expert weekly chart analysis go

January futures respected the triple line of support that had been evident a week ago with the uptrend from August currently still intact. Nearby resistance is the October high of 10.13. The uptrending channel objective is currently at 10.28 but that will probably take help from next week's USDA report to achieve. In the meanwhile it wouldn't be a surprise if the market retraced a bit as the market is entering a cycle convergence window on Friday. This current cycle turn point coincides with previous cycle turn points that formed the April, August, and October lows with minor swing points appearing in August and September. Initial support begins at the 18 day moving average at 9.91 followed by a layer of support at the 9.81-9.83 level. Technical damage will be inflicted with a daily price close below 9.81.

A price close below 9.63 will technically end the process of higher highs and higher lows and give the bears the upper hand.

Recent articles from this author

About the author

Steve Fast is the owner and technical analyst of Commodity Concepts LLC based in Ohio. It is a futures chart based grain advisory service which utilizes professional trader techniques to assist in the decision making process. Clients normally utilizing this expertise are farmers, futures brokers, and grain buyers. He has been involved in the grain industry for over 36 years. Thirty-four of those years were in grain elevator management, merchandising and origination.  He began both the farmer advisory service and farming part-time in 2000. In 2015 he transitioned into full time grain farming as well as broadening the scope of the advisory service. More information can be obtained by logging onto


Published by Barchart
Home  •  Charts & Quotes  •  Commentary  •  Authors  •  Education  •  Broker Search  •  Trading Tools  •  Help  •  Contact  •  Advertise With Us  •  Commodities
Markets: Currencies  •   Energies  •   Financials  •   Grains  •   Indices  •   Meats  •   Metals  •   Softs

The information contained on is believed to be accurate but is not guaranteed. Market data is furnished on an exchange delayed basis by Data transmission or omissions shall not be made the basis for any claim, demand or cause for action. No information on the site, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options contracts. is not a broker, nor does it have an affiliation with any broker.

Copyright ©2005-2019, a product. All rights reserved.

About Us  •   Sitemap  •   Terms of Use  •   Privacy Policy