May soybean oil (ZLK26) futures present a selling opportunity on more price weakness. See on the daily bar chart for May soybean oil futures that prices have backed well down from this week’s contract high, including producing a technically bearish buying “exhaustion tail,” whereby the bulls ran out of gas at higher price levels. That’s a clue that a market top is in place. It’s also my bias that spreaders will soon begin unwinding long soybean oil, short soybean meal (ZMK26) spreads. More News from Bar ...