Food Industry
Industry: Email Alert RSS FeedSofts/Soybean Outlook: Soybeans Climb Higher.
Resource News International, November, 2006
Byline: Phil Franz-Warkentin, Resource News International
Winnipeg, MB, Nov 08, 2006 (Resource News International via COMTEX) --
SOYBEANS
Soybean futures at the Chicago Board of Trade (CBOT) climbed to fresh contract highs during the week ended November 8 and could be poised to see further gains as the charts are looking bullish, said sources. However, supply/demand reports from the USDA may provide some nearby direction for the market.
"If you look at the chart, it looks beautiful. It's just onward and upward," said Vic Lespinasse a CBOT grain broker/analyst with AG Edwards and Sons. "January soybeans have not closed lower two days in a row for about five weeks, so any breaks have been shallow and short lived," he added.
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