Soybean futures chart analysts are monitoring freight rate

Analysts are monitoring freight rate changes impacting Brazilian exports. Price models indicate potential consolidation before a seasonal rally in late summer. Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): ADF test is used to test the stability of each price series. The results indicate that all original sequences of China’s soybean spot price (SP), China’s soybean futures price (FP) and international soybean futures price (CBOT) are non-stationary, while their first-order differenced series reject the null hypothesis at the 1% significance level, thereby demonstrating stationarity. Therefore, the subsequent analysis utilizes the first-order differenced series of these three variables, denoting them with a ‘d’ prefix to indicate differencing. The soybean futures chart currently marks November 2024 contracts at $12.60, supported by long-term demand growth from biodiesel producers. Hedge funds have increased net-long positions by 8% week-on-week, signaling a firm market outlook.