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The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.5 occurred near Liunan District, Liuzhou City, Guangxi Province at 07:41 on May 18. The final result is subject to the official rapid report.On May 18th, according to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) continued to decline in the week ending May 15, 2026, with the benchmark contract closing down 0.6%, mainly reflecting lower prices for Chicago soybeans and other vegetable oils, as well as weak soybean oil export sales. However, international crude oil futures rebounded, and soybean oil inventories were lower than expected, providing a bottom support for the market. This week, Malaysian palm oil fell 1.8%, and Canadian canola fell 2%; Brent crude rose 7.87%. The soybean oil/fuel oil spread was 152.37 cents, compared to 157.83 cents a week earlier, reflecting continued improvement in biofuel margins. Calculations based on the USDAs weekly crush report showed that for the week ending May 8, 2026, the US soybean crush margin was $4.89 per bushel, down 7.39% from a week earlier. According to the monthly crush report from the National Oilseed Processors Association (NOPA), soybean oil stocks stood at 1.947 billion pounds at the end of April, down 4.5% from March, slightly below market expectations, but up 27.5% from the same period last year.According to foreign media reports on May 18th, commodity funds were net sellers of CBOT corn, wheat, and soybean futures contracts, while net buyers of CBOT soybean meal and soybean oil futures contracts on Friday. Specifically, they were net sellers of 12,000 soybean futures contracts.The UKs Rightmove average house asking price index rose 1.2% month-on-month in May, compared with 0.80% in the previous month.Australian Treasurer Charles Chalmers has issued orders to six shareholders to divest their stakes in Northern Minerals. This decision is entirely in line with the recommendations of the Treasurer and the Foreign Investment Review Board, aimed at protecting national interests and ensuring compliance with Australias foreign investment framework.

Silver Price Analysis: Near 50 DMA, XAG/USD rises to mid-$23.00s

Alina Haynes

Feb 03, 2023 15:21

Silver attracted buyers around its 50-day simple moving average (SMA) on Friday, halting its previous day's regression from its highest level since April 2022. In the early European session, the precious metal maintains a moderately bullish tone, although the intraday increase lacks bullish confidence.

 

The XAG/USD has formed a rectangle pattern on the daily chart during the previous half-month, bouncing in a typical range. This indicates traders' hesitation and calls for care before putting aggressive direction bets. The inability to gain acceptance above the $24.50 supply zone overnight validates the trading range resistance, which should now serve as a pivot point.

 

Given that technical indications on the daily chart have only recently begun to drift into negative territory, it would be smart to await a sustained advance beyond the aforementioned barrier before putting bullish wagers. The XAG/USD pair might then attempt to recapture the $25.00 psychological level for the first time since April 2022. On the way to $26.00, the momentum could be extended towards the next significant obstacle near the $25.35 region.

 

Conversely, any further decline below the horizontal zone between $23.40 and $23.30 may continue to find support around the $23.00 to $22.95 region. This is followed by support in the $22.75 range, which, if forcefully broken, could pull the XAG/USD to the next key support near the $22.20-$22.15 zone before the $22.00 level.


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