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Soybean prices experienced further declines yesterday, with the market now exhibiting a slight bullish trend around $1,006.00. However, stochastic indicators are losing their positive momentum, suggesting that prices may continue their expected downward trajectory in the near future. The next target for this bearish trend is set at $984.00.
Conversely, if prices break above $1,028.80, this could negate the anticipated bearish outlook and shift the market towards a potential upward movement.
For today’s trading session, the expected price range is between a support level of $980.00 and a resistance level of $1,015.00.
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Best 5 Ways To Read Soybean Futures Prices