Consider buying a call option on March soybean meal futures.
See on the daily bar chart for March soybean meal futures that prices are starting to rebound from the October low. History shows that when the soybean complex rallies, meal can be the upside leader. My bias is that there will be upside price pressure in the soy complex futures markets in the coming weeks and months. The overall world supply and demand situation for soybeans remains bullish. Also, see that the Moving Average Convergence Divergence (MACD) indicator has recently produced a bullish line crossover signal, whereby the thick blue MACD line crossed above the thin red “trigger” line. Consider buying a call option on March soybean meal futures, with an upside price objective of $520.00, or above. The option expires in late February.
