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Soybean prices opened today with significant downward movement, breaking the $1071.20 mark and settling below it. This trend is expected to lead to further declines, with initial targets set at $1046.50 and extending down to $1028.80.
Today’s bearish sentiment is bolstered by negative signals from the stochastic indicator. However, if prices breach the $1071.20 level, a correctional bullish scenario may emerge, targeting $1105.50.
The anticipated trading range for today is between a support level of $1035.00 and a resistance level of $1080.00.
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Best 5 Ways To Read Soybean Futures Prices