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Soybean prices experienced positive trading yesterday, reaching a critical resistance level at $1,000.00. As noted in previous reports, it is crucial for prices to remain below this threshold to maintain the current bearish trend. A breach of this level could lead to further gains, potentially reaching up to $1,028.80 before any new downward movement is observed.
Current analysis shows Stochastic indicators displaying negative signals, suggesting a likelihood of resuming the anticipated decline. The next target for prices is projected at $960.30.
For today, the expected trading range for soybeans is between a support level of $980.00 and a resistance level of $1,010.00.
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Best 5 Ways To Read Soybean Futures Prices