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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Soybeans and lean hogs as US-China tension rise

We look at two key commodities that might be affected as US-China trade tensions flare.

Soybeans

Global soybean prices have spent two months forming a base around 830, holding above 820. Recent price action has left it in a range between 830 and 850, but it has now succeeded in breaching, almost by accident, trendline resistance from the January highs. A move above the 50-day SMA (850) would bolster this view, and above 860 the price then targets

Lean hogs

It is a different story for lean hogs, which soared from the April lows but have begun to come under pressure. The price is fighting to hold the 50-day SMA (5638), but if momentum turns decisively downwards then we could see much of this bounce unwound. Alternately the price needs to clear 6050 to target 6500 and the late April peak.

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