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The Downtrend Continues in Soybeans

Published on: 16:48PM Aug 22, 2014

SOURCE: CME Past performance is not necessarily indicative of future results. Although very reasonable attempt has been made to ensure the accuracy of the information provided, Utterback Marketing Services Inc. assumes no responsibility for any errors or omissions.

 

November 2014 soybean continued their downtrend this week due to warmer weather, additional rains throughout the Midwest and the thought that this soybean crop is growing in yield. As you can see in the chart the first line of support is $10.16 with the potential to go to the $9.55.
Producers, who still have unsold bushels, look to sell on any rally and buy calls on fall lows to enhance revenue. Now is when you should be making any marketing decisions prior to harvest. If you have any questions, call our office.

If anyone feels they need to put structure into their risk management decision-making and would like to discuss marketing strategies, call Bob or Laura (1-800-832-1488). We will also try to answer questions in upcoming blogs and we welcome emails to laura@utterbackmarketing.com or utterback@utterbackmarketing.com.


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