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Soybean prices recently experienced a temporary decline, retesting a previously breached resistance level. However, they have since bounced back, indicating a potential resumption of the bullish trend on an intraday basis. Analysts anticipate a target price of $1,028.80, which is viewed as a key upcoming milestone.
The Stochastic indicator is showing signs of positive momentum, reinforcing expectations for further price increases. This bullish outlook remains valid as long as prices stay above the support level of $986.50.
Today’s expected trading range for soybean prices is between a support level of $990.00 and a resistance level of $1,020.00.
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