Soybean futures on the Chicago Board of Trade ended higher Wednesday, consolidating prior losses on technical buying and production uncertainties.
The market staged a relief rally, breaking away from outside influences, as technically oversold conditions and reports of below-average yield reports provided support to attract buyers, analysts said
The world's economic crisis has not been solved, so there remains opportunity for additional liquidation to surface, but Wednesday's gains could be the start of a consolidative phase, a CBOT floor broker added.
Soy product futures ended higher, bouncing in unison with soybeans. Technical
buying was featured as the market recovered from oversold conditions.
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Thursday, October 2, 2008
Soybean review :
Posted by " Be A Smart Trader " at 11:01 AM
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