Soybean Weekly Forecast

This/Next Week Forecast (October 12 – 16, 2020)

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 1081, which will be followed by reaching resistance level 1175.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1046, which will be followed by moving down to support level 1000 and if it keeps on moving down below that level, we may expect the market to reach support level 940.

Chart Soybean This/Next Week Forecast, Technical Analysis

previous week soybean price forecast
Chart Soybean This/Next Week Forecast, Technical Analysis

Fundamental Analysis

Difference between supply and demand showing fair price on the level 1060.

Chart Soybean Ending Stocks, Inventory

Long-Term Forecast
(Quarter III: July – September, 2020)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 854, which will be followed by reaching resistance level 904 – 941 and if it keeps on moving up above that level, we may expect the market to reach resistance level 997.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 854, which will be followed by moving down to support level 816.

Chart Soybean Forecast 2020, Long-term Outlook, Technical Analysisok

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