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Soybean prices experienced a significant downward movement, breaking below the $1064.20 mark to resume a bearish trend. Finding support at $1033.10, the commodity faces potential further declines towards key targets at $1000.00 and $985.00.
The breach below the EMA50 signals potential continuation of bearish sentiment, with failure to surpass $1033.10 possibly triggering a recovery phase towards $1060.00 levels.
Today’s anticipated trading range is expected between $1010.00 support and $1050.00 resistance.
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