本報告來自 MacroTerms.com

數據截止: 2026-10-07 · 結算口徑: 交易所最終日結算價

Soybeans (ZS=F) Deep Dive | Bullish on Margin Support | 2026-10-08

We maintain a bullish bias on Soybeans (ZS=F) driven by resilient crush margins and technical stabilization near key support. The instrument settled at 1297.5 on October 7, holding above the 20-day low of 1273.25 despite a broader 20-day decline of 0.92%. Recent price action suggests a consolidation phase where downside pressure is being absorbed by fundamental strength in the crush sector. While the 5-day change is positive at +0.35%, the 20-day trend remains negative, indicating that the current move is a counter-trend recovery rather than a confirmed trend reversal. The primary catalyst remains the US soybean crush margin, which has expanded to 2.5174 USD/bu, sitting in the 61st percentile over the past year. This fundamental underpinning provides a floor for prices, limiting the effectiveness of technical breakdowns. Our target is a retest of the 20-day high at 1335.25, with an invalidation level below 1283.5. We advise clients to look for long entries on dips near the 1290.5 support zone, targeting the upper end of the 20-day channel.