(1) Futures Technical Analysis
Bullish triangle with RSI breakout.
Enought space for bullish move.
(2) SOYB trust fund
I've skipped the futures instrument, because I'm not like options on futures.
My choice for Soybean play is $SOYB with relative high IVR value.
Optimal for Short Put Vertical strategy,...
why did i but soybeans??
well its the number one thing used in Vegan veg food like tofu and other things of such.
with the moment to the veg life i would only assume that the demand for soy would only go up:)
also wanted to diversify my portfolio more so i decided to buy this!!!
As a consumer of TOFU (made from soybeans) for years, I am well aware of its health benefits and been an advocate of buying its ETF, futures for some years now.
What is exciting for 2021 is this chart here ! It has broke out of its long term bearish trend in Aug 2020. Well, while the price seems to move up pretty fast from 14 to 20+ dollars, there is still 8+...
Good one to keep your eye on. Some fundamentals could add up to the price of soy going up soon, dollar intervention, potential trade war agreements, loss of pork in China, cold weather in the US that Dept of Agriculture has not updated the forecasts on yet. Certainly worth keeping an eye on!
Hmmm....very interesting to me.
Price bounced at the L-MLH.
It produces what I call a corner.
And if I throw a fork on it, it fits the "edge".
Letting it come back and try to hop on to the long side.
Weekly net soybean sales were 1,609,900 MT, a 21% increase from last week and a 62% increase from the prior 10-week average. Increases were reported from China, Mexico, the Netherlands, Portugal, Vietnam, and South Korea....