Soybean Oil Prices Fall as Crude Oil Slides Lower. 1 Trade to Make Here.

September soybean oil (ZLU26) futures present a selling opportunity on more price weakness.

See on the daily bar chart for the September soybean oil futures that prices are trending lower. See at the bottom of the chart that the moving average convergence divergence (MACD) indicator is also in a bearish mode as the blue MACD line is below the red trigger line and both lines are trending down.

Delayed Brazil Harvest and Tight Inventories Underpin Coffee Prices

Coffee Prices Climb on Wet Brazilian Weather and Tight ICE Inventories

Cocoa Prices Sharply Higher on Excessive Ivory Coast Rain

Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else.

Fundamentally, crude oil (CBQ26) (CLQ26) prices are sliding lower, which is also bearish for bean oil. Also, spreaders who had earlier initiated long bean oil, short meal (ZMU26) spreads, will have to start unwinding those spreads at some point, and probably sooner rather than later. That would be bearish for bean oil.

A move in the September bean oil futures below chart support at the June low of 65.90 cents would become a selling opportunity.

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/commodities/articles/soybean-oil-prices-fall-crude-153830318.html)