Soybeans futures the soybeans futures market is

The soybeans futures market is reflecting mixed fundamentals; a stronger U.S. dollar capped gains, while tight pipeline stocks limited downside. Analysts expect USDA’s next WASDE report to play a decisive role in shaping Q3 price trajectories. WATERMAN, Illinois (Reuters) -A trade mission to Nigeria. A memorandum of understanding with Vietnam. A surge of purchases from Bangladesh. Cattle futures market bulls are fading… The live and feeder cattle futures markets Thursday saw more profit-taking pressure and weak long liquidation from the shorter-term traders. Big drops in boxed beef prices also pressured futures. More active cash cattle trading was reported by USDA at midday Thursday. Steers were averaging $230.08 and heifers $230.47. That’s down from last week’s USDA reported cash cattle trading average of $232.65. The live and feeder cattle futures bulls have also faded, technically, recently to suggest major market tops are in place. There are very strong chart resistance levels that lie above present prices. The soybeans futures curve shows slight backwardation, hinting at near-term supply constraints. Spot prices at $12.22 hold above moving average support, giving technical traders confidence in maintaining moderate bullish positions.