Soybean Weekly Forecast, September 28 – October 2

This/Next Week Forecast
(September 28 – October 2, 2020)

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 1011, which will be followed by moving up to resistance level 1045 – 1063.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 1011, which will be followed by reaching support level 960 – 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 between the levels 1000 – 930.

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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