Soybeans have been consolidating for some time between the yellow and red trend lines after finding support just above the 1500 week ma. Corn has led the market with downward action and now leads it with upward trajectory. Soy's have finally broken out of the RSI downtrend they've been in for almost 4 years. It seems obvious that Soybeans will follow corn and move to the green line at the very least. The stochastic RSI on the monthly has had a confirmed cross up signaling bu8llish momentum in the next several months. For reference corn had a confirmed cross up last fall. The price I'm expecting is 12.5 a 15-17% gain from todays prices. If corn can keep moving higher the next target for soybeans is 14ish. I will start booking my soybeans for the 2025 season if we can get a 10-15% gain from here.
I'm a farmer from Canada and have been studying charts for about 8 years now. i started implementing my TA into commodity futures a few years ago.
Thanks for reading
I'm a farmer from Canada and have been studying charts for about 8 years now. i started implementing my TA into commodity futures a few years ago.
Thanks for reading
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.