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Grain Hedge

RSS By: Brock Schimbeno, AgWeb.com

Grain Hedge is a self-directed discount brokerage that saves farmers money when trading in the futures and options market. For $7 commissions per side producers can execute their marketing strategy with authority, any time the markets trade.

Soybean Resistance on the Horizon

Oct 14, 2011

After a solid technical and fundamental week for Soybeans, the oilseed will run into a bit of technical resistance next week at $12.82-13.00. That price level marks the bottom of the sideways channel Soybeans traded in for nearly five months and will prove to be an important battleground if the commodity wants to rebuild its technically weak chart.

Should Soybeans cross back over 13 with conviction, another daunting roadblock lay ahead at both $13.20 and $13.40. At these levels the 200, 100 and 50 day Moving Average will almost certainly offer up some strong selling pressure. 

(Click the chart to take a demo of the Firetip Trading platform!)

BeanChart10 14

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