January Soybean Meal

Watch the price where the January soybean meal contract expires Thursday. We thought that meal prices would set back due to the end of the union strike in Argentina. Instead, prices rallied to new contract highs and closed at a $6 premium to the March contract. The gain in the nearby contract as it approaches expiration is a positive sign for meal demand. The next resistance on the chart is at the 2014 high at $463 per ton.  

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