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Soybean prices have resumed their downward trend, approaching the anticipated target of $984.00. Analysts expect this bearish bias to persist, with the next significant support level identified at the recently recorded low of $960.30.
The bearish trend is projected to continue in the coming sessions. However, a breach of the $1,000.00 resistance level could lead to a price rebound, with potential gains allowing the price to test the $1,028.80 range before any further declines.
For today’s trading, the expected range is between a support level of $975.00 and a resistance level of $1,000.00.
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