wmeubank@ocp.kcmo.com
TAURUS COMMODITIES
133 W. Boscawen Street, Winchester, Virginia
(December 12, 1997) SOYBEANS: Prices are now in their third month of sideways movement, in a broad trading band between 700 and 750 (March). A stronger dollar versus weakness in Asian currencies, stock market jitters and expectations for good crop weather in South America may create a downside breakout.
SOY OIL–A similar side pattern to beans, but not as pronounced as prices approach a 50% retracement from November highs to cyclic lows. Weather forecasts coming out of Brazil are pressuring this market too, and if prices close strongly below the 26-cent level (March), it will likely trigger sell signals for us with a target of around 22 cents.
|
|
Hosted by:
One Crossroads Place
610 West Maple Ave, Suite WWW
Independence, MO 64050
(816) 252-4080
sysop@kcmo.com