Listen to the latest market mood for the ZS1!

There are some reasons supporting Soy futures. Firstly, a recent US Gov’t report (the WASDE report) has shown lower US reserves and smaller crop yields than expected. Adverse weather in the US has impacted harvests on Soy and corn. Early frost across the Midwest could further harm yields. There are reports that China’s recovering swineherd will increase demand for soy. So, less supply, but more demand is expected to support Soy’s future prices.

Expect Soy buyers on pullbacks to the daily ascending trendline.

Trade Risks:

  • Mild weather in the US
  • Slower swine herd recovery in China

HYCM Lab is a financial analysis source that provides regular insights on how global news affects the markets including forex, commodities, stocks, indices, and cryptocurrencies*. Run by the HYCM team, it equips traders with everything needed to make informed trading decisions.