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Soybean prices have exhibited a notable decline, with forecasts indicating a potential drop to $1004.00. Market analysts anticipate further decreases in the coming sessions, with a key target set at $984.00, which represents the next significant milestone.
The prevailing negative pressure, reinforced by the 50-period Exponential Moving Average (EMA50), suggests that the bearish trend is likely to persist. Traders are advised to maintain positions below $1028.80 to achieve the anticipated targets.
Today’s expected trading range for soybean prices is projected between a support level of $980.00 and a resistance level of $1015.00.
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Best 5 Ways To Read Soybean Futures Prices