Soybeans Testing Critical Price Support…

Jan Soybeans (SF’7) testing range support near $10.20 this morning as the Argentine forecast calls for rains next week. Failure to hold $10.20 close would revert values back into the previous trading range of $9.80-$10.20 for foreseeable future. Bulls need to hold here to maintain momentum. See additional at: https://twitter.com/commercialhedge/status/809044370796199938…

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Crude closely following last year’s action…lower into year end?

WTI price correlation to last year’s action has held tightly since summer. Will we follow last year’s path to the downside into year end? Additional pressure growing on OPEC to get a deal done or else! For more insight from Powerline, visit: https://powerlinegroup.net/Free-Trial/index.html

OPEC Playing a Dangerous Game of Chicken…

OPEC continues to talk about “cuts” and a November agreement…but meanwhile their members are pushing oil output to record highs. This becomes a dangerous game of ‘chicken’ as the onus increasingly shifts to Saudi to bear the brunt of those cutbacks…probably on the order of 1.0-mbpd. Latest indications continue to…

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