Soybean Weekly Forecast, August 31 – September 4

Soybean Price Forecast For This/Next Week
(August 31 – September 4, 2020)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 941, which will be followed by reaching resistance level 997.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 941, which will be followed by moving down to support level 908.

Chart Soybean This/Next Week Forecast, Technical Analysis
chart: soybean market outlook, technical analysis

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

Soybean Price Prediction

According to Fundamental Analysis difference between supply and demand do not show imbalance on the market and defines the current fair price in the range $940 and now further price fluctuation will be determining by technical analysis.
Chart Soybean Ending Stocks, Inventory
chart: soybean futures market ending stocks, inventory world with US

Soybean condition is became worse during last 2 weeks that pushing price up.

Soybean Price Forecast 2020, Long-Term
(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
chart: soybean technical analysis, market outlook

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