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June 25 (Futures News) – According to foreign media reports, Chicago Board of Trade (CBOT) soybean futures closed lower on Wednesday, with the benchmark contract down 0.7%, marking the third decline in the past four trading days. This was mainly due to the plunge in international crude oil futures, with speculative funds continuing to sell. International crude oil fell by more than $3 per ton on Wednesday, closing at its lowest level in four months, as market concerns about supply eased as more tankers left the Strait of Hormuz. Soybean futures are typically influenced by crude oil movements because soybeans are a key feedstock for biofuel production. Generally favorable weather conditions in the U.S. Midwest, which are conducive to early crop growth, continued to weigh on the soybean market and encouraged speculative funds to continue selling.On June 25th, according to foreign media reports, soybean meal futures on the Chicago Board of Trade (CBOT) closed mixed on Wednesday, with the benchmark contract closing down 0.4%, following the downward trend in neighboring soybean and soybean oil markets. Favorable weather conditions in U.S. soybean producing regions and a clear production outlook continued to pressure the soybean and soybean product markets. The sharp drop in international crude oil futures also negatively impacted the soybean and soybean product markets. The U.S. Department of Agriculture will release its weekly export sales report on Thursday. Analysts expect net U.S. soybean meal export sales for the week ending June 18, 2026, to be between 200,000 and 550,000 tons. In comparison, the previous weeks net sales for U.S. soybean meal in the 2025/26 marketing year were 283,900 tons, and net sales for the 2026/27 marketing year were 120,200 tons.June 25 (Futures News) – According to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) closed lower on Wednesday, with the benchmark contract down 1.3%, following the downward trend in the international crude oil market. Crude oil prices fell by more than $3, reaching levels seen before the Iran-Iraq War, as supply concerns eased as more tankers stranded in the Strait of Hormuz departed. U.S. crude oil futures prices fell below $70 per barrel, hitting their lowest level since March 2. The soybean oil futures market typically follows crude oil trends because soybean oil is a feedstock for biofuels.June 25 (Futures News) – According to foreign media reports, Chicago Board of Trade (CBOT) corn futures closed slightly lower on Wednesday, with the benchmark contract down 0.6%, mainly reflecting the plunge in international crude oil futures and generally favorable weather conditions in the Corn Belt. As tensions in the Middle East eased, more oil tankers left the Strait of Hormuz, causing international crude oil prices to fall further to their lowest level in four months. This put downward pressure on the corn market. Corn is a key raw material for bioethanol production. In recent weeks, speculative funds have been significantly reducing their large net long positions in CBOT corn futures, exacerbating the decline in corn prices. However, recent strong US corn export sales have provided a floor for the corn market.Japanese Chief Cabinet Secretary: No abnormalities occurred at the nuclear facility, and there were no casualties.

S&P 500 Price Forecast — Stock Market Looking for Footing

Florala Chen

Aug 24, 2022 15:54

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In the E-mini contract, the S&P 500 has gained a little bit of stability during the Tuesday trading session as we get closer to a critical support level.

Technical Analysis of the S&P 500

In the early stages of the E-mini contract, the S&P 500 has moved in a rather narrow range. Having said that, this week is the Jackson Hole Symposium, which is practically guaranteed to make a lot of noise. In this case, I believe the trading public will be paying great heed to central bankers' pronouncements, which, of course, may sometimes result in complete pandemonium.


In this case, I believe we could have a brief rebound followed by increased selling pressure. The 200-Day EMA is located around 4185, and there is considerable resistance at the 4300 level above. It's also important to pay attention to the 50-Day EMA, which is at 4082 and climbing below; it may provide dynamic support.


I do believe that it is extremely possible that traders will look to the 50-Day EMA to salvage the market upward, regardless of whether or not this turns out to be the case. If we break it down below that, the market is probably just trying to get to the 4000 level. Anything below the 4000 mark indicates that we have once again altered our mentality and that more downside is yet to come.


One thing you can certainly bet on, in my opinion, is a lot of noisy volatility, mostly as a result of the central bankers' ranting in Wyoming. They will almost certainly underline their resolve to battle inflation, which means that monetary policies will continue to tighten throughout the globe.

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