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On June 26th, according to foreign media reports, Canadian canola futures on the Intercontinental Exchange (ICE) closed higher on Thursday, with the benchmark contract rising 0.40%, mainly reflecting a rebound in international crude oil futures. An analyst stated that the modest rise in Canadian canola prices was primarily due to a rebound in West Texas Intermediate (WTI) crude oil prices after falling to $70 per barrel, which boosted commodity prices, including canola. Crude oil prices rose by more than $1 per barrel, and Chicago soybean oil and European canola oil prices also increased. However, Malaysian palm oil prices fell on the same day. Statistics Canada will release its canola planting area report next Tuesday. Analysts currently predict that the Canadian canola planting area this year will be between 22.1 million and 23 million acres.June 26 (Futures News) – According to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) closed higher on Thursday, with the benchmark contract rising 2.2%, following the rebound in the international crude oil market. International crude oil futures rebounded on Thursday as an attack on a cargo ship near Oman raised concerns about when Middle Eastern oil shipments would return to pre-war levels. The rebound in crude oil prices provided a strong boost to the Chicago soybean oil market. The U.S. Department of Agricultures weekly export sales report showed that for the week ending June 18, 2026, net sales of U.S. soybean oil for the 2025/26 marketing year were 900 tons, down 62% from the previous week and 47% from the four-week average.On June 26th, according to foreign media reports, soybean meal futures on the Chicago Board of Trade (CBOT) closed higher on Thursday, with the benchmark contract rising 1.6%, following gains in neighboring soybean and soybean oil markets. The rebound in international crude oil futures and the potential for high temperatures in the Midwest boosted Chicago soybean and soybean oil futures, providing a price support for the soybean meal market. The USDAs weekly export sales report showed that for the week ending June 18, 2026, net sales of U.S. soybean meal for the 2025/26 marketing year totaled 153,100 tons, down 46% from the previous week and 47% from the four-week average. Net sales for the 2026/27 marketing year were 29,200 tons, compared to 120,200 tons a week earlier.June 26 (Futures News) – According to foreign media reports, Chicago Board of Trade (CBOT) soybean futures closed higher on Thursday, with the benchmark contract rising 2%. This was mainly due to improved U.S. soybean export sales, a rebound in international crude oil futures, and the possibility of high temperatures in parts of the Midwest over the weekend, which boosted the relative price of soybean oil futures. The U.S. Department of Agricultures crop condition report released Monday showed that two-thirds of the U.S. corn and soybean crops were growing well or very well, reflecting favorable growing conditions in the Midwest. However, market attention shifted to the weather forecast for the coming week on Thursday. The National Oceanic and Atmospheric Administration (NOAA) predicts that temperatures could reach 100 degrees Fahrenheit (approximately 38 degrees Celsius) this weekend from the northern Midwest to the Carolinas in the East. Temperatures from the Great Plains to the Atlantic coast will be above average for this time of year, a situation expected to continue until July 4.Japans Tokyo unadjusted CPI rose 0% month-on-month in June, compared with 0.3% in the previous month.

S&P 500 Price Forecast – Stock Markets Continue to Struggle

Alice Wang

Jul 15, 2022 15:54

Technical Analysis of the S&P 500

Due to the ongoing pessimism, the S&P 500 has decreased somewhat during Thursday's trading session. At this time, it seems as if the market is prepared to go further, maybe attempting to approach the most recent lows at the 3637 level. In the end, this market should continue to see a lot of agitated behavior. I believe that fading rallies will remain a significant problem. The 50 Day EMA is now hanging in the general vicinity of the 3950 level, which serves as the ceiling at this time.


Ultimately, your indication to become engaged will be when you start to feel exhausted after brief rallies. Given the lack of global growth and the fact that inflation is still a problem, I do believe the downward trend will continue. Additionally, the Federal Reserve is rapidly tightening monetary policy, and as a result, a 100 basis point interest rate rise is being predicted. Due to the fact that the S&P 500 contains so many significant exporters, it is extremely probable that we will continue to see significant problems with the global economy.


In the end, a running season is approaching, so there could be some "hopium" waiting to happen, but after hearing J.P. Morgan declare, "We have never seen an economic scenario like this," during its results presentation, I don't think this earnings season will be cause for celebration. After a rally, I will suppress any indications of tiredness.