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Soybean prices have recently surged past the $1,000 mark, with the stochastic indicator showing a clear rebound from negative momentum. This shift suggests a potential continuation of the upward trend, with the primary target set at $1,028.80.
The bullish outlook for soybeans is expected to persist in the near term. However, it is important to note that a drop below $990.00 could invalidate this positive scenario, leading to a potential decline in prices.
Today’s anticipated trading range for soybeans is between $995.00 and $1,030.00, with $995.00 serving as support and $1,030.00 as resistance.
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Best 5 Ways To Read Soybean Futures Prices