The Market The soy complex has had a bullish week thus far, moving higher on a weather premium added for Brazil, and news that China, the largest importer of soybeans, will significantly boost economic stimulus. Short-covering had been rampant until today’s selloff. News that Saudi Arabia will keep production ramped up helped tank petroleum, and it took the soy complex down with it. The RSI had risen to over 60 and was signaling time for a correction. For the week thus far, November soybeans are up 34.5 cents (3.4 percent).
December soymeal is up $2.30 (2.3 percent).
December soyoil had climbed eight straight sessions until faltering today. As with beans, the RIS had risen to over 60 with all the recent bull action. For t...
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