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Stay Short Soybean Meal

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Soybean Meal Futures---Soybean meal futures in the July contract is currently trading at 296.50 down 180 points as it looks like the trade war with China is escalating as I still think lower prices are ahead.

If you take a look at the daily chart there is a descending triangle pattern starting to develop as that is a bearish technical indicator as I have been recommending 2 bearish positions with an average price of 299.00 & if you took that trade we're going to continue to place the stop loss at 305.00 on a hard basis only.

For the bearish momentum to continue prices have to break the May 21st low of 293 in my opinion as I still think the excessive wet weather in the Midwestern part of the United States is bearish towards soybeans not bullish.

Soybean meal is trading below its 20 and 100 day moving average as the trend remains negative as the volatility certainly has exploded over the last couple of weeks and that's going to continue throughout the summer months as there's so much uncertainty surrounding the 2019 crop so continue to stay short.




If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit

Skype Address: 5da1f85979b7117b




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About the author

Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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