Soybeans price trading
Our opinion in the stock market
Cash Soybeans Market (S-099) have been in a correction since late May. Potential support levels for the November contract are 10.88 . 10.43 and 10.15 . If the interpretation of the chart is correct then a projection downward of Price would intersect the lower descending trend line at approximately 10.15 which is in agreement with the lowermost calculated level. Mother Nature continues to provide good growing conditions which supports
This is our outlook on the Soybeans price and continues to make the Barydyne Soybeans trade even more profitable.
Cash Soybeans Market (S-099)
Cash Soybeans Market (S-099) oil futures contracts are the benchmark for the soybean oil market. The bulk of the soybean crop is grown for oil production. Soybean oil, commonly called vegetable oil, is very popular because it is cheap, healthful and has a high smoke point. Soybean oil is not only used in food products. It also used as a natural renewable replacement for petroleum-based products such as: bio diesel, inks, plasticizers, crayons, paints and soy candles.
The two basic products of soybeans are soybean oil and soybean meal. Soybean oil is the most widely used edible oil in the United States. The consumption of soybean oil exceeds that of all other fats and oils combined. More than 90% of the soybean oil is used in edible products such as cooking oil, margarine, mayonnaise, salad dressing, and shortening. The rest is used in industrial products such as paint, varnish, linoleum, and rubber fabrics.