The firmly bearish postures of the corn and wheat futures markets are finally bringing down the soybean futures. See on the daily bar chart for March soybeans that recent price action has negated an uptrend line. The bears have regained the near-term technical advantage, to suggest soybean prices will drift sideways to lower at least into the end of the year, and possible the first few weeks of January. The fundamental focus of the soybean market now turns to growing conditions in South American soybean country. Stay tuned!–Jim
