China May Not Be Buying U.S. Soybeans, But Soybean Meal Is a Value Buy for Traders Here

Core Insights - December soybean meal futures are showing a buying opportunity due to a developing uptrend and reaching a seven-week high [1] - The global supply and demand balance for soybeans is favorable for bullish sentiment, despite trade tensions between the U.S. and China [2] - Historical data indicates that soybean meal prices below $300 per ton represent a value-buying opportunity [2] Technical Analysis - A breakout above the resistance level of $291.00 in December soybean meal futures would strengthen bullish momentum and create a buying opportunity [3] - The target price for potential upside is set at $315.00 or higher, with technical support identified at $280.00 for protective sell stops [3] Market Context - The current market conditions reflect a bullish outlook for soybean meal, driven by favorable supply-demand dynamics and technical indicators [2][3]